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Scottish Trust Deed Forum
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Topic starter
16/03/2018 2:40 am
Hi,
I am looking to start a limited company as this will be easier for me to be paid from various agencies and my job. This way I will know how much I will receive each month.
The main question is, is this going to be possible as I am halfway through my trust deed? Also is it going to be worth it?
The other main question is, if it is possible, is there a bank that will allow me to open a business account?
Thanks in advance
16/03/2018 9:12 am
Hi stu1382
There is no legal reason why you cannot set up a limited company whilst in a Protected Trust Deed. You should let your trustee know what you are planning though, so that they can advise you of any requirements that they may have of you in doing so.
I believe that banks will usually credit score directors of ltd cos when opening a bank account, so your Trust Deed would show up if they did. Whether that would prevent your company being able to open an account is another matter. It may be that they could offer an account but without any credit facilities.
Maybe other members of the forum might be able to help with some information if they have done a similar thing.
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