Re: Desperate for business bank account

On 3 Sep 2006 03:28:59 -0700, "Darren" <darren.b@xxxxxxxxxx> wrote:

For the record I came to the UK with some decent savings, but it's a
rather expensive country. My current job came along just as my money
was running out.

I have travelled extensively, and I agree that the behaviour of banks
in the UK is unusual.

Also, though I'm sure some will disagree, I don't think that IT
contracting should have the same costs and hassles as starting up a new
business. Unfortunately, that is the way it is organised in the UK.

Have you asked your agency (or employer) if they will pay you PAYE for
a couple of months, or advance you a personal cheque as a temporary
measure? SOME of the better agencies will do this sort of thing. Worth
asking.

Also, if you have a Ltd Company, have you asked the company that
formed it for you if they can get a bank account sorted for you? Most
company formations bureaux have links to a bank or two and can get
accounts opened in days for you.

I'm afraid I'm fully in support of the hoops that UK banks make you
jump through (and I've personal experience of it, being a secretary
for my friend's company and seen her try to open a business account at
Barclays where her personal account has been for years). Over the
years I have worked with tens and tens of Australian and South African
folks in the City of London who were just here for two years and would
openly boast about how they were paying no tax, and would bugger off
out of the country well before the Revenue caught up with them. It
used to really annoy me that these foreign workers would be willing to
accept a lower rate than Brit workers and still come out on top
because they were paying no tax. This sort of thing combined with home
grown criminal activity has caused the government to bring in all
sorts of banking regulations recently, so opening accounts can involve
quite a degree of inconvenience now, but I'd rather that than the
situation of almost voluntary tax for foreign IT contractors that was
going on as recently as five years ago.
.

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