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Investing through a limited company - bank account options?

plankd
Posts: 3 Newbie

Hi, I run a small business which generates surplus cash which currently just sits in the company account. I set up a new limited company to act as a vehicle to invest this cash in tracker funds. My problem is I can't find a bank that will open an account for this sort of investment only business. Any ideas on where I can get an account? Or alternative ways to invest the cash (I already make employer pension contributions and I already draw down cash to my personal account up to the threshold for higher rate tax - I'm keen to avoid going into the higher rate band)
Thanks in advance
: )
Thanks in advance
: )
0
Comments
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Unless you have plans to use the funds within the business, employer pension contributions would be the simplest and most tax-efficient option. There would be an additional compliance burden for an investment company (companies house, hmrc) and the investment company itself would be subject to corporation taxes. The rules for taxation of non-trading companies also differs to those of trading companies, so you really need to know what you're doing (or pay an accountant who does).
"Real knowledge is to know the extent of one's ignorance" - Confucius0
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