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Business vs personal banking for new small business

  • 20-06-2017 11:22AM
    #1
    anoneemuss
    Registered Users, Registered Users 2 Posts: 7 ✭


    Just wondering, is there any legal requirement to have a business bank account for a small business/sole trader? I understand that it is important to keep personal and business finances separate but what about just opening a new personal account and using that solely for business expenses? I'm considering branching into freelance work, and just wondering why do I need a business account at all, which costs more, when I'm expecting my activity and income to be pretty minimal?


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