ok. lets see if I can explain! What with all the financial nightmare of this week im concerned about the cash in my business account.

Lets put aside which institution for a second as I'm interested in general on the taxnans point of view on this. I have 2 accounts a standard business and linked money manager account. I have a limited company and as far as i know i can move money to the savings without it being considered as leaving the company and therefore taxable.

Problem is, what with the UKs 35K limit on savings I am worried about the cash in my business accounts - are these protrcted (or not ) in the same way? I have over 50K between these accounts and as far as im aware if i spread the money to another institution it will be taxable and if i leave it where it is it will be at risk.

Any ideas on making sense of this?

many thanks


danny
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Danny,

Sorry I can't provide the answers - I just came to the forum to ask exactly the same question. Is there any protection for funds in a limited company if the ban goes belly up?

As far as I know the company can have accounts with different banks and move money between them with no tax implications - but I'm not an expert

Martyn
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