Starting beeing self employed while bankruptcy

Hello Guys!

Iam bankrupt since a while and will get my discharge in may.

I am thinking to start as a sole trader.
At the moment I am still employed. My plan is to do the sole-trader business the first time parallel to my job and then witch to it completely.

However, I have an IPA and the NI Tax-Code.

My first question is:

Because of the IPA I have to tell the OR every change in income.
When i start as a sole trader, my income will change every month.
Can someone please explain from own experience how the process with the IPA payments is, if the income changes every month?

My second question:

I think it´s best to have a separate bank account for my sole trader-business.
I think I can not use a basic-account for this, or can I?
I think I need a business account.
However, it seems to be difficult to get a business-account as a bankrupt.
Has some of you experience and can tell me a bank where I can get an Account for my needs?
I don´t need a branch or other extra stuff. If it´s an online account it is absolutely fine. At least the standard payment functions should be available.


Many thanks for every help.

Greetings
MrBankrupt

Comments

  • Arleen
    Arleen Posts: 1,164 Forumite
    Combo Breaker First Post
    I am not so sure about the IPA and bankruptcy part, but many high street banks offer basic business bank accounts for people in precisely your situation.
  • Hi Arleen

    many thanks for your answer.

    Well, due my work it´s a bit difficult to go to one of the high street banks during their opening times.

    Any advice for anything i can open online?

    Thanks again

    Mr Bankrupt.
  • Arleen
    Arleen Posts: 1,164 Forumite
    Combo Breaker First Post
    With bankruptcy up, you will struggle to get anything done over the internet. A phone may be a possibility, but visit face to face will yield best results.
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