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Limited Company And Private Account
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beeebeee
Posts: 5 Forumite
I have a limited company and a private account at the same bank...for the purposes financial protection, are these treated as 2 separate entities ie. £50,000 each or just one because ultimately they are both in one person's name?
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They are separate legal entities.
The £50k protection relates to private individuals. Protection for limited companies is discussed on the FAQ thread, it depends on its size.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Yep, silvercar is correct. The ltd company and yourself are two separate entities. My ltd company's main account is also with the same bank as my personal main account.0
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