An important step in starting a business in the UK is to open a bank account in the UK. It not only separates your personal and business transactions, but also makes it much easier in paying taxes, paying employees and receiving customers’ payment.

In this blog we will discuss step by step how you can open a bank account in the UK in UK. It will contain detailed discussions about what documents required, setup process, online application rules and best banks.

Why is it important to open a bank account in the UK?

Opening a bank account in the uk means that your business is getting more perfect in the legal perspective. In it you will receive:

• Privilege
• Clear calculation while fileing tax returns
• Payment from the customer is easy to receive
• The opportunity to build a business credit score

Especially if you manage a limited company, it is also legal obligations.

Documents Required: Which papers will need?

Some basic documents are required to open a bank account in the UK in the UK. These papers may change somewhat in the bank, but usually the following papers will be required:

Personal Identity Card:

• Passport or driving license
• Utility Bill (within the last 6 months)

Business Information:

• Certificate of Business Incorporation
• Company’s registered address
• Companies House Registration Number
• Business Plan (sometimes required)
• Estimated annual turnover

Additional documents (if any):

• Partnership Agreement (if the business is partnership)
• Returns Previous Tax

Depending on your business type and bank policy, the number and type of documents required may vary. bank account in the UK

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