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How to protect Ltd Co Assets
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Well on the HSBC website you can't apply for a business saver unless you have a business current.
This is all very confusing....0 -
Just spoken to HSBC at length. You do need a business current to open a current account. Apparently HSBC would allow me to do that (in view of current circumstances) but only if I didn't have any overdraft or loan facilities with my main bank. Apparently if I had transferred from my main bank to HSBC, then maxed out the loans, then withdrew the money from HSBC, then disappeared, the main bank could demand the money back from HSBC. Some such nonsense that would be a risk to HSBC. Sounds a bit pathetic.
Anyway spoken to my accountant who feels that the risks are lower given today's government announcement.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
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