Running a separate bank account for purchasing?

Hi... I am importing from abroad for a new Ltd company I am starting. I would like to keep the puchasing side of things away from the marketing for several reasons eg.

Do not want my suppliers knowing my mark ups

I am approached by lots of other suppliers when they find out I am buying from X company because they have found us on the net.

My soon to be sales line is unundated with various sales persons selling xyz that I don't want or need.

I am considering opening a 2nd bank account, is this possible to put it under the same Ltd Company but with a different name, so that the link cannot be made? If not and I use a personal account, what are the implications tax wise?

Any help appreciated!

 

 

 

Comments
RogerNeale's picture

2nd Bank account or 2nd telephone line?

RogerNeale | | Permalink

I am a little puzzled.

Your initial comments don't make sense to me, unless you are selling via the Internet, how could your suppliers know what margin you are making selling the products?  And, if the knew, what difference would that make?

I can't imagine why you would want to keep purchases seperate from sales, basic UK accounting relies on them being linked.

A company can have as many bank accounts as it wants, in as many currencies as it needs, they are all private and only known by the company. The accounts would have to be in the company name or a trading name of the company.  You should not use a personal account for company business, in any case, your bank will soon realise what you are doing and make you change it to a business account.

If you are receiving unwanted sales calls, from people  trying to sell you the same product, it may be that you can negotiate a better price from your current suppliers when you find out what they're offering.

You may want to consider ex-directory numbers to use for outgoing sales calls, if you are goign to be making them or you may wish to consider having additional lines on the same number for incoming calls if you are execting lots of calls.

2nd Bank Account

susan_frost | | Permalink

Yes we are selling on the internet in part and there are lots of good reasons why we don't want the manufacturers to know our mark up. These are our products and protecting them is not entirely possible so we don't want to give them a reason to try sell our products that we have developed, elsewhere.

The idea of other suppliers contacting us is not what we want, we don't want to deal direct with loads of potential suppliers also there are many many suppliers out there, most of which will not offer the standard of goods we need.

 

IanBrewster's picture

Web identity

IanBrewster | | Permalink

It sounds as if you don't want your suppliers to see what your selling price is.

Remember that by law, you must include your companies details (name, reg address, reg no, etc) on your web site

http://www.companieshouse.gov.uk/about/gbhtml/gp1.shtml#ch9 para 5

so i'm not sure you can stop them finding out your prices if they look hard enough. 

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