We have our practice bank accounts with Santander so thought it would be a good idea to have our client funds account with them too but they say they don't offer that service for accountants (only solicitors and estate agents). They will open up designated accounts for every single client we get tax refunds for but surely this isn't necessary. The money comes in from HMRC one day and leaves the very same day to pay our fees and the rest to the client. The amounts could be a few thousand pounds but never anywhere near £10,000. We are an ACCA memeber firm and their guidance suggests an undesignated account would be acceptable but as Santander disagree I'm wondering what other small practices do? Can anyone recommend a good general client funds account?
Thanks in advance