Abbey - bad advice?

frags_2

Hi all,

I started a new business venture and went to Abbey to open a business account.

I told the business manager that I would be putting in more than 3K a month cash and he said that to avoid the charges I should open several accounts and spread the deposits.

I mentioned this to my accountant who reckoned that IR will jump on me from a great height with an investigation to make sure that I have declared all the accounts. On top of this my end of yr audits would sky rocket in price due to tying up all the accounts for IR.

Who is right on this one.

Cheers,

Frags

withnell

They both are.

The business manager is providing a solution that will result in no charges for the cash deposits on your Business account - it is not in his control the cost of your accountant. The costs for depositing the cash are likely to be greater than the cost of additional audit confirmation letters