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Second current account for tax-related transactions
AppleSource
Posts: 6 Forumite
I do online-shopping and pay personal bills all via debit card and dd. Also, I get rental income from property and expenses related to property. All this tends to crowd my statement.
I was thinking it would make sense if my private, non-taxable transactions were separate to tax-relevant transactions. Not just for ease but also should the HMRC require to look at my statements for the past 6 years I won't have to explain every detail of my personal life, yikes!
I know I could set up a business account but the property income could be viewed as an investment rather than business as I don't do much "work" for it.
So does this seem like a reasonable excuse for a second personal current account with banks generally? I don't want find out by trying as that might go on record that I failed to get an account.
I was thinking it would make sense if my private, non-taxable transactions were separate to tax-relevant transactions. Not just for ease but also should the HMRC require to look at my statements for the past 6 years I won't have to explain every detail of my personal life, yikes!
I know I could set up a business account but the property income could be viewed as an investment rather than business as I don't do much "work" for it.
So does this seem like a reasonable excuse for a second personal current account with banks generally? I don't want find out by trying as that might go on record that I failed to get an account.
0
Comments
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lots of people have more than one bank a/c
personally I have three
some people like two so they can budget better
some because they are offered 100 for opening one etc.
and it wouldn't show on your credit report that your were turned down, only that a credit search was carried out.0 -
Should have made it clear I meant from the same bank (got another current account elsewhere but don't like the security). From your response it sounds like they'll be fine with it. Cheers0
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