Best business bank accounts for creative freelancers
Going freelance gives you more control over how and where you work. Probably the most important decision you have to make is to choose a GREAT bank account. A business account helps you separate your professional expenses and income you receive from your personal account. As there are several different types of business bank accounts, with some offering free experience.
So what are the advantages and disadvantages of a business account?
Business Account – Pros
- Separates transactions – Keeps your business and personal spendings separate.
- Makes it clear for tax purposes – Beneficial when it comes to working out how much tax you owe to HMRC.
- Looks more professional
Business Account – Cons
- Fees – Monthly fees for most business accounts and more limits set with accounts.
- More administration – Can be more time consuming to open a business account.