Which is the best start-up business bank account
I'm new to RLA and would like to tap in to you fine people's knowledge base...
My partner and I both own a rental property each and have set-up a LTD company which we intend to use as an SPV for both houses; this to reduce our tax burden. We will be selling both houses to the business in the next couple of months and of course, we will need to set-up a business bank account for the LTD Co.
We anticipate approx. £1250 per month of rental income from both houses, which is above (for example) Santander's start-up business account limit of £1000 per month. After £1000 you pay an extra 50p per £100 income on top of the monthly fee, which is £7.50 per month after the initial free banking period.
This seems like a small amount to be levied each month, however, we intend to grow the portfolio over the next few years and so before long we could end up doubling or tripling the bank charges!
Can anybody please recommend a solid and sensible business bank account that can handle a small to medium sized portfolio's monthly transactions, without costing the Earth?
With kind thanks in anticipation.
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