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Review of the Starling Bank, Business Account:

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Perfect for a sole trader

Compared with Tide, with whom I held my previous business account, Starling business accounts are far, far better. They have all the basics covered such as IBANs, the main reason I left Tide after waiting two years for them to implement them. Starling are also covered by the FCS, which I had stupidly assumed was also the case with Tide. Starling’s security features are solid and easy to use, especially when combined with the biometric security of smart phones. In addition, although it is a subscription service, the Starling business toolkit is fantastic and well worth the £7 a month. Providing you make all business payments through the business account, bookkeeping is a breeze and VAT, once the Starling account had been connected to my HMRC account, is completed with a couple of clicks. Any VAT received from clients is automatically placed into a saving space that is not reflected in the main account balance. This means I can always see how much cash I have available and don’t need to worry about keeping money aside to cover the quarterly VAT payments. I’m intending to use the tax functionality for this financial years accounts as I’m confident this will also be as easy to use. This is the first time I have ever been impressed with a bank. I also have my current account with Starling and the saving spaces make saving for large annual bills such as car insurance a doddle. Reviewed on: 16th April 2021

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