I need some urgent advice... I have been in an iva for about 18 months however have luckily had a win fall and paid it off. Obviously I still have a bad rating and I'm still waiting for my manager to actually close my iva grr.... Anyway my question is urgent basically I have been a sole trader for a whole getting work via an agency however this agency has changed the rules and said we need to be a limited company. I had no issues with setting this up however for the life of me I cannot get a business account and neither can my better half as she's been in an iva too. If I'm not ltd by the 1st of August my pay will stop can anyone offer any solutions??? Ps Barclays and lloyds have turned me down for a business account already. Thanks
The agency could pay the money into your personal account and provided you take care of company money there should be no problem. You could probably find a business account that you pay for if you search online but in the interim use your own account.
Diuscuss this with your accountant who can advise further.
There are 2 card-based accounts that offer business accounts to IVA customers (assuming you have no luck with your existing banks/the high street): 'Cash Plus' and 'Card One Banking'.
Fees look very reasonable as well.
check out the respective websites.
Good luck.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
