Best Business Current Accounts

A business current account works in a similar way to a personal current account, but is taken out in your business's name. It's used to manage everyday finances including payroll, receiving money, making payments and to make paying taxes easier.

This depends on how your business is set up. Sole traders don't have to have a business account, although it can be helpful to have a clear distinction between personal and business expenses. Limited companies in the UK must have a business account, as the business is a separate legal entity.

There’s no limit to how many current accounts a business can open. In fact, having more than one can be helpful. You could have separate accounts for paying salaries, taxes or saving for future expenses.