Small business electricity

YGHS

The house where I live has been converted into 3 residential flats and the freehold is shared between the owners of the 3 flats. There is no management company for common parts electricity, buildings insurance, repairs etc. I pay the electricity bill for the 2 lights and 1 plug socket in the communal hall/stairs and my co-freeholders reimburse me for their 1/3 shares. This has been in effect for at least 11 years. I have applied for a fix (from April 2023) from my present supplier (SSE) but their risk assessment team require a business credit report from Experian. My personal credit report won't satisfy them. I do not believe that I can (or even want to) create a business just for this. Does anyone have any advice on how to proceed please? Are there companies who do not require a business credit report? 

QrizB

Welcome to the forum.

In practice, you already are a business; you're providing energy services to the freeholders.

Robin9

But won't a business mean audited accounts ?


OP Is the easiest way to submeter from your own account ?

or let the SSE account roll on when the  present term expires - you will end up on out of contract terms

or change suppliers at end of contract

macman

Rewire the communal components to your domestic supply and then agree with your co-freeholders to repay their one third shares as before. There presumably isn't much variation in usage from year to year, and, if these are currently separately metered, you are probably paying more in standing charges than in usage?
If someone were to start abusing the socket supply, you could simply disconnect it, but it doesn't sound like this would be an issue with you neighbours.

QrizB

Robin9 said:

But won't a business mean audited accounts ?

No, you can be a sole trader and yourt accounts can be a shoebox full of receipts and copy invoices.

Only limited companies need accounts, and even then tiny ones don't need auditors.