Interest bank account for my ltd co

FlaatusGoat

Apologies if this has been asked a million times but I've now got a certain amount of money in the business account. With interest rates being high are there any business-orientated savings accounts I can move much of this money to without falling foul of HMRC or my accountant? Not sure the process. Also if yes any recommendations on decent products?

Thanks

DullGreyGuy

Why'd you fall foul of HMRC or your accountant? As long as the account is in the name of the LTD and you declare the earned interest then there wont be any issues (unless your accountant has direct access to your accounts and you choose a saver that doesn't support this)

What type of account do you need? Easy Access? Notice? Fixed Duration? 

There are plenty of tools out there comparing different providers rates once you've decided what type you need. 

FlaatusGoat

DullGreyGuy said:

Why'd you fall foul of HMRC or your accountant? As long as the account is in the name of the LTD and you declare the earned interest then there wont be any issues (unless your accountant has direct access to your accounts and you choose a saver that doesn't support this)

What type of account do you need? Easy Access? Notice? Fixed Duration? 

There are plenty of tools out there comparing different providers rates once you've decided what type you need. 

Easy access or perhaps 30 day notice accounts. Any recommendations? I presume my Ltd Co would pay tax on any interest earned, too. I suppose that would negate the benefits somewhat...

DullGreyGuy

FlaatusGoat said:

DullGreyGuy said:

Why'd you fall foul of HMRC or your accountant? As long as the account is in the name of the LTD and you declare the earned interest then there wont be any issues (unless your accountant has direct access to your accounts and you choose a saver that doesn't support this)

What type of account do you need? Easy Access? Notice? Fixed Duration? 

There are plenty of tools out there comparing different providers rates once you've decided what type you need. 

Easy access or perhaps 30 day notice accounts. Any recommendations? I presume my Ltd Co would pay tax on any interest earned, too. I suppose that would negate the benefits somewhat...

Getting 75% of the interest is still better than getting nothing!

Recommendation is to Google "compare business saving accounts" and check a few of the tools' suggestions making sure you rank them by interest rate. 

We use Kent Reliance instant access which is currently 3% but there are others offering 3.5%. Not looked at notice accounts in detail but some are offering 5%+ if the notice period is acceptable. 

Glad

Have a read of the recently updated article ‘Top Savings Accounts’ on the main site here
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

there are some comments lower down about savings accounts for limited companies 

FFHillbilly

Glad said:

Have a read of the recently updated article ‘Top Savings Accounts’ on the main site here
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

there are some comments lower down about savings accounts for limited companies 

can't really see anything of relevance for the OP in that link?

I have just opened an easy access savings account for the LTD Co with Shawbrook at 3.25%