Starting your own business

john10001

In an IVA is it possible to start your own business or is it unusually difficult?

UpToMyNeckInIt

Nothing stopping you starting your own business.

The only hitch might be opening a business bank account. In this respect, if you struggle with the high street banks, 'Cash Plus' do a card-based business account for IVAers. Only snag is that they don't accept cheque receipts/payments.

However, if you register your business address at your accountant's, things are a little easier.

Good luck.

ami66

UpToMyNeckInIt wrote: »

Nothing stopping you starting your own business.

The only hitch might be opening a business bank account. In this respect, if you struggle with the high street banks, 'Cash Plus' do a card-based business account for IVAers. Only snag is that they don't accept cheque receipts/payments.

However, if you register your business address at your accountant's, things are a little easier.

Good luck.

Accountants will often allow limited companies to use their address for companies house as a registered office but it's not the norm for a business to just use their accountants address as their own. You should check with them first.

cheesedoffwithdebt

john10001 wrote: »

In an IVA is it possible to start your own business or is it unusually difficult?

my only observation would be that business start ups don't pay much- so how will you continue with your IVA payments? Cashflow is a huge issue for the self employed, sometimes a lack of and sometimes you have loads. I would think very seriously about that- and just make sure you can ride the storm of bill payments in the early days and months.