Accountants amongst us?

i have a problem that i'm hoping somoene might be able to shed some light on.

i am australian, i am here on a working holiday visa. 12months working in a 2 year period. to avoid the IR35 legislation or what ever it is, i was advised to create my own business become my own director and pay myself. i did all this, i applied for the business bank account, and 3 weeks (3 WEEKS!) later, was told by the bank that they cannot issue me a business account because i do not have indefinate leave to remain. they gave me a savings account, a credit card and overdraft, but they can't give me a business account.

my question, if anyone knows, is since when? i know many others who have been working here on various types of visas who were able to open a business account. what about international businesses? is there anyway around this?

i am fuming right now, because i have now worked for 3 weeks for free. Umbrella companies will not process pay periods from before you were a member.

suggestions on what i should do would be most welcome.

[SoulKiss]

Originally Posted by ibishu

i have a problem that i'm hoping somoene might be able to shed some light on.

i am australian, i am here on a working holiday visa. 12months working in a 2 year period. to avoid the IR35 legislation or what ever it is, i was advised to create my own business become my own director and pay myself. i did all this, i applied for the business bank account, and 3 weeks (3 WEEKS!) later, was told by the bank that they cannot issue me a business account because i do not have indefinate leave to remain. they gave me a savings account, a credit card and overdraft, but they can't give me a business account.

my question, if anyone knows, is since when? i know many others who have been working here on various types of visas who were able to open a business account. what about international businesses? is there anyway around this?

i am fuming right now, because i have now worked for 3 weeks for free. Umbrella companies will not process pay periods from before you were a member.

suggestions on what i should do would be most welcome.

Have you tried Orange Genie - They processed stuff for me - tho it may have been a very close overlap.

If they can help you, give them my name - they do a refferal "bounty" scheme.

Will Split 50/50 with you :P

What sort of a company did you set up? As this could be the answer to your problems.

As esentially when you set up a company you apply for the bank account in the company name rather than yours. So I cannot see any bank creating probles for you. Unless you are a sole trader?

PM me for me. Will try to help if I can.

Can't help on the bank account point.

But you've set up a company - I did this a few years ago, as a service company, idea was to get around IR35. The Inland Revenue will bombard you with paper. It seemed to me that hardly a day passed without some unintelligible rubbish from them. It was like a tide, unstoppable, and it followed its own motion. Next thing, they tried to impose penalties for not answering the paper. You have to disclose a schedule of employees even if you don't have any, you must file nil returns.

I won a reprieve from some of it on appeal, as the company has never traded and never had any employees. And it is so much hassle to have a company that I'm having it struck off the register.

Now I'm not stupid (at least I don't think I am) - but this snowstorm of unintelligible paper was baffling. Perhaps they do it so that they can rack up the penalties.

[JediGoat]

My only knowledge of opening a business bank account...is that it is a bloody pain!

I assume you have set yourself up as the sole director of a limited company? If so, and with no trading history, you'll have to endure all sorts of background checks to make sure you're not 'dodgy'. This may be why they are refusing you as you are on a temp visa and they cannot do all the checks? Just a guess from me....

Jo

I did the same a few years back with 1st contact. It was a ltd company and HSBC looked after the banking - managed to get it signed up all done in a day. Maybe worth giving them a call and checking out how they do it with short visas. I got a letter of introduction to HSBC, made an appointment and job done. 1st Contact took a small percentage for managing the accounts and adimin and shutting it down once I didnt need it - invaluable if you are just here for a year as the admin will slow you down.

Nice brown enveleope from the Inland Revenue this morning. Pay the £100 fine by 14 September - for not filing a Corporation Tax return (even though I told them that the company had never traded, so didn't have any profits or losses) - and I've filed an appeal - or we will prosecute.

Suitable reply sent.

[timwilky]

I managed to get a business account in about 10 minutes with my local HSBC as a sole trader. They seemed to be falling over themselves to help me.

Originally Posted by Gmonsta

I did the same a few years back with 1st contact. It was a ltd company and HSBC looked after the banking - managed to get it signed up all done in a day. Maybe worth giving them a call and checking out how they do it with short visas. I got a letter of introduction to HSBC, made an appointment and job done. 1st Contact took a small percentage for managing the accounts and adimin and shutting it down once I didnt need it - invaluable if you are just here for a year as the admin will slow you down.

i have already spoken to HSBC. they will not give me an account. i have a perfect credit history here and in australia, but the entire sticking point seems to be the visa!

arrgghh this is a pain. all i want to do is get paid and maybe keep some of that pay to buy petrol! is that too much to ask?