topic Re: Being asked to upgrade to business account in Seller Central

topic Re: Being asked to upgrade to business account in Seller Central https://community.ebay.co.uk/t5/Seller-Central/Being-asked-to-upgrade-to-business-account/m-p/7751171#M695614 Coincidentally, I had a meeting with my accountant over lunch today. He has just left. Basically, as of a few minutes ago, he says the vast amount of information in this thread is utter nonsense. A limited company does not even need to have a bank account, although it makes things like accounting, and building a credit reputation much easier. It is theoretically possible still to run a business solely on cash, although not many would. In my past, I worked for one of the big high street banks. Where on earth are people getting the idea that businesses can't have current accounts? In my experience (and my accountant's), almost all businesses will run current accounts. Mine certainly does. As stated above, it is obviously more sensible to separate private and business matters where it comes to finances, but, again, it is not set in stone that you must. Proper records must be kept, and it would obviously make accounting more complicated (and expensive) if you decided to use one account, but, if that's what you want to do, just do it. eBay, and other entities can insist on certain requirements, e.g. having a bank account, registering with them as a business, and it is their right to pick and choose who they want to deal with, based on their own requirements. However, many posts here are confusing eBays requirements with legal requirements. They are often two very different things.  Legitimate registered LTD or LLPs are required to have a business bank account. Info easily found on banking sites..LTD companies are a separate entity so it is required.  I have tried to link but the links are being removed... so please research yourself.  Sole traders can have business accounts or current accounts but please read the terms and conditions of your bank as many do not allow business transactions on current accounts which contain your personal transactions.  Interesting you worked for a bank so did I in my younger years... a global bank, which was very interesting.  eBay has their own " business" policies and terms and conditions - they are also using Gov. legislation to push many private accounts to register as business accounts without evidence... If you are NOT running a business there is no requirement to register either with eBay or HMRC.  Edit.. spelling and tried to add the link again without success.   Fri, 17 Jan 2025 15:16:45 GMT vintique*violet 2025-01-17T15:16:45Z