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Different business activities of an ltd - do different bank accounts required?

appleapple Settling In NicelyRegistered Posts: 39
one of my client runs his ltd. His partner is a masseur, she is employed by the ltd, so massage services is one of the activities.
the next activitie is consultancy, coaching on how to build your own network (accourding to my client)
without letting me know he started his online book selling business as well.
for these activities the company has only one bankaccount so all incomes and expenses go throught this one bank a/c.
is it required by law to separate the different business activities? for me it is such a headache to follow the transactions. i tried to persuade my client to have at least 3 different bank accounts but he is not willing to do it.
thanks in advance

Comments

  • appleapple Settling In Nicely Registered Posts: 39
    thanks mrme89. i guess i submit a merged,abbreviated account to companies house and hmrc
  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Yes joint accounts but you need to be able to account for the profits from each trade seperately for tax purposes.
    Regards,

    Burg
    MarieNoelle
  • appleapple Settling In Nicely Registered Posts: 39
    burg said:

    Yes joint accounts but you need to be able to account for the profits from each trade seperately for tax purposes.

    thanks
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