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Bank recommendations
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While it's his main account for his business income and expenditure it should definitely not be used for personal transactions, he could be in deep trouble should HMRC audit him and find that business and personal transactions are being mixed up.
I'm not sure that's accurate. It's completely fine for a sole trader to use one account for both personal and business expenses if the bank allows it.0 -
I'm not sure that's accurate. It's completely fine for a sole trader to use one account for both personal and business expenses if the bank allows it.
I haven't said anything about the bank allowing it or not, I think in fact you are right in the circumstance you mention, my point is clearly about HMRC.0
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