Do you need a UK bank account for a UK limited company?

A separate account is how you evidence that company money belongs to the company and not to you personally, which matters for limited liability, for corporation tax computations, and for any HMRC enquiry into director's loans or benefits in kind.

Suppliers, payment processors and customers also expect payment to and from a business account in the company's name; an account held in a director's personal name or an overseas entity's name looks irregular and can slow down commercial relationships.

Running transactions through a personal account is legally possible but creates a running director's loan account that must be tracked meticulously, and any overdrawn balance beyond company thresholds triggers a section 455 tax charge and potential benefit in kind reporting.

It also makes bookkeeping materially harder, since every personal transaction has to be filtered for business content, which usually costs more in accountancy time than simply opening a dedicated account from the outset.

Our fixed monthly packages for a UK limited company start at £89 plus VAT and run to £169 and £289 plus VAT as bookkeeping, VAT, payroll and reporting are added. One-off filings are sold at fixed prices, and the Companies House fees we pay for you are charged at cost with no VAT added. Overseas owners are quoted on exactly the same published prices as UK-resident clients.

Rates, thresholds and deadlines here reflect the 2026/27 UK position and current Companies House and HMRC guidance. Check GOV.UK, or ask us, before relying on them for your own company.