Do I need a business bank account?

There is no legal obligation for a limited company to open a business bank account but it is highly recommended for some of the following reasons;

Legal and Financial Clarity: A limited company is a separate legal entity, meaning its finances must be kept distinct from your personal finances. A business bank account makes this separation clear.

Ease of Accounting: Keeping company income and expenses separate simplifies bookkeeping and filing annual accounts with HMRC and Companies House.

Professionalism: Using a business account for transactions gives a more professional impression to clients and partners.

Tax Compliance: Mixing personal and business finances can complicate your tax reporting and increase the risk of errors or scrutiny from HMRC.