Business Cheques

[AAT1981]

All

I am lloking at starting a company as ABC Ltd, but want to take paments from my customers under my trading name XYZ.

Question.

Can I pay cheques into a business ban account as XYZ if the company bank account is set up as ABC Ltd T/A XYZ?

Also, can I invoice from XYZ without showing ABC Lyd on the invoice?

[Eric Mc]

AAT1981 said:

All

I am lloking at starting a company as ABC Ltd, but want to take paments from my customers under my trading name XYZ.

Question.

Can I pay cheques into a business ban account as XYZ if the company bank account is set up as ABC Ltd T/A XYZ?

Also, can I invoice from XYZ without showing ABC Lyd on the invoice?

You can set the limited company up as ABC Ltd t/as XYZ

Your company bank account can also show this.

What you should NOT do is bill your clients as ABC Ltd and bank the cheques into a separate non-limited company account called XYZ.

Once the limited company starts issuing invoices, I am sure that you should show the full limited company name on the invoice somewhere. There is nothing to stop you showing the trade name "brand" as the main name on the invoice, but the full company name and Companies House number should be shown somewhere - perhaps at the foot of the invoice in small print.

Your customers are entitled to know who and what they are doing business with.

Edited by Eric Mc on Thursday 28th October 17:09

[Mr Overheads]

Exactly what Eric said ^^^

[AAT1981]

Eric Mc said:

AAT1981 said:

All

I am lloking at starting a company as ABC Ltd, but want to take paments from my customers under my trading name XYZ.

Question.

Can I pay cheques into a business ban account as XYZ if the company bank account is set up as ABC Ltd T/A XYZ?

Also, can I invoice from XYZ without showing ABC Lyd on the invoice?

You can set the limited company up as ABC Ltd t/as XYZ

Your company bank account can also show this.

What you should NOT do is bill your clients as ABC Ltd and bank the cheques into a separate non-limited company account called XYZ.

Once the limited company starts issuing invoices, I am sure that you should show the full limited company name on the invoice somewhere. There is nothing to stop you showing the trade name "brand" as the main name on the invoice, but the full company name and Companies House number should be shown somewhere - perhaps at the foot of the invoice in small print.

Your customers are entitled to know who and what they are doing business with.

Edited by Eric Mc on Thursday 28th October 17:09

Eric

Cheers for the advice.

I want to invoice as XYZ and the cheques coming in would be made payable to XYZ, can see where this could lead to trouble.

However I am not worried about my customers knowing who they are dealing with, I am the only person that will see my customers (for now) however the issue is I am still working at a company and looking to leave, for now in the transition period I need to keep my name away from everything!

So taking payments as XYZ and trading as this would help me in the short term, not for any tax/VAT avoidance

[Simpo Two]

Does it have to be a Limited Company?

I'm a sole trader but have a brand name too. My bank is happy to take cheques payable to either. Whether that's because they're just a nice bank or because I'm not Limited, I don't know.