Changing from Sole Trader to Ltd. - New Bank Account?

JohnCleary · 2025-10-28 17:14:32

Hi all, This might be an obvious one, but just to clarify…. I'll soon be migrating from Sole Trader to Ltd. I currently have a Business Bank Account with an Irish bricks and mortar. The only difference in name will be from "ABC" to "ABC LIMITED" - As mentioned, it's already a business account. On my bank statment, the name…

28-10-2025 06:14PM

#1

JohnCleary

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Hi all,
This might be an obvious one, but just to clarify….
I'll soon be migrating from Sole Trader to Ltd.
I currently have a Business Bank Account with an Irish bricks and mortar. The only difference in name will be from "ABC" to "ABC LIMITED" - As mentioned, it's already a business account. On my bank statment, the name of the account is "John Cleary T/A ABC".
It's just myself (director) and Secretary. I will be the only one pulling a wage from the LTD company.
Am I right in saying it's easier to just start from scratch and open a new business bank account under "ABC LIMITED"?

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#2 28-10-2025 09:44PM

plhealy2000

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Join Date: May 2007

Posts: 100

A new bank account will be needed as the company is a separate entity from the sole trade/you.

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