Multiple Businesses.

[Downward]

Hi.
Just doing a bit of Due Dilly on a potential supplier.

The banking details are a joint account.

Looking at the company address though there is only 1 company here with 1 director named.

The other joint account name has numerous directorships under this address . 29 in fact with 28 companies dissolved. Some companies the directorship is 1 day or a few months.


Any idea why they would do this ?

[Whoozit]

Smell test. This one doesn't pass.

[KevinCamaroSS]

You are mentioning the supplier is a 'company', as in a registered limited company entity? The bank account should be in this name, what are the joint names on the account?

[Downward]

Joint names are company director and A.N other

[Dr Interceptor]

Unless they are very new, and don't have a business account yet, their bank account name should be "ABC Company Name Ltd"

Or if non limited, it should be "Director Name - T/AS ABC Company Name"

[KevinCamaroSS]

Dr Interceptor said:

Unless they are very new, and don't have a business account yet, their bank account name should be "ABC Company Name Ltd"

Or if non limited, it should be "Director Name - T/AS ABC Company Name"

This. Can you confirm that it is a limited company or not?

[madmover]

Assuming it is a limited company, i'd be approaching with a great deal of caution. Certainly wouldn't want to be paying pro-forma for anything!

[dxbexpress]

As suggested above, if a Ltd company the bank account should be in the name of the company. If its a sole trader then you can expect the bank account name to be in the name of the owner.