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Is a business bank account needed working with Umbrella company?

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    Is a business bank account needed working with Umbrella company?

    Am totally new to contracting, willl work via an umbrella company and it seems that I will have to open a bank account in UK.
    Can I open a normal/ordinary account to be paid?
    What are currently the best banks for opening an account of the simplest type required (taking into account costs, service, ideally support for non-residents)?

    (I have a 3 months contract, don't think I will continue contracting after that, at most I might contract for a year)

    #2
    You just need a personal current account. As for which bank to choice I can’t help the one I use has minimum income requirements
    merely at clientco for the entertainment

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      #3
      If you're working through an umbrella, you are, in effect, being treated as an employee of the umbrella company. As such, your personal bank account will be fine (assuming it's a UK current account).
      The greatest trick the devil ever pulled was convincing the world that he didn't exist

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        #4
        Originally posted by enrico200165 View Post
        Am totally new to contracting, willl work via an umbrella company and it seems that I will have to open a bank account in UK.
        Yes, just a normal current account will suffice - I thought you mentioned in another thread that you had contracted before?

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          #5
          I contracted in 1993, first job in a very prestigious place, got the task were the most senior engineer had spent one year and failed, so totally focused on work and didn't care at all about accounting, burocracy Etc. so de facto I am new to contracting as I know nothing about it now and knew/learned nothing at the time (didn't claim a single expense :-) Used an umbrella company at the time.


          Originally posted by lucycontractorumbrella View Post
          Yes, just a normal current account will suffice - I thought you mentioned in another thread that you had contracted before?
          Last edited by enrico200165; 13 December 2017, 14:12.

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