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Thread: UK - Putting US Funds on Accounts

  1. #31
    Registered Member incka's Avatar
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    Barclays takes about a week for me.

  2. #32
    Web Monkey MarkB's Avatar
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    Natwest usually clear my Google cheques within a week or so (although longer for some others... but it hasn't been 3-4 weeks for some time).
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  3. #33
    Senior Member chromate's Avatar
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    Quote Originally Posted by incka
    Barclays takes about a week for me.
    Maybe because you have a business account? Mine are always consistently 4 weeks. Weird. I'm not bothered though. I don't care when I get the money, as long as it doesn't take like 4 months or something

  4. #34
    Registered Member incka's Avatar
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    I think my account could be a personal one... When I print a ministatement it's always on within 1 & 1/2 weeks...

  5. #35
    Registered aj8's Avatar
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    If you're a Limited Company IIRC you should have a Limited Company specific account really, otherwise the taxman could deem you to be a soletrader

  6. #36
    Senior Member chromate's Avatar
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    Could they do that? I would have thought that the decision as to what sort of an account would be entirely up to the director. I wouldn't wanna run a ltd company out of my personal bank account anyway.

  7. #37
    Registered aj8's Avatar
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    No. Limited Company being a separate legal entity a personal account is not an asset of that company. Supposing liquidators were to walk in, and take a look at the situation. How would they decide what was company cash and what was personal cash?

    A Limited Company is a separate legal entity to the director. If possibly not specifically illegal (I have not checked the companies act about that point) it is *certainly* HIGHLY irregular and could cause you a LOT of problems to mix and match personal with Company.

    I reckon it might be illegal though, perhaps not by statute but by case-law.

    A.

  8. #38
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    ....regarding the tax thing and companies,

    I had a friend who owned a large company and then got bored with it. To get out the tax, he made himself redundant, (tax free upto a certain amount £30,000, i think) and then closed the companty, capital gains at 10%.

    ....not that anyones looking at closing their companies, but interesting anyway.

    It takes a clever accountant to find loop holes like this! But nothing is impossible!

  9. #39
    Registered aj8's Avatar
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    Interesting strategy.

    I've been asked before whether as an employer with employers liability insurance, I could fire myself then sue my own company for unfair dismissal.

    I think the phrase taking the p.... might apply here though
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