Your accountant will have the best advice, but we do recommend one thing.

Before you open a company bank account, please ask the bank whether they will accept cheques made out to you personally.

In our experience, the name of most limited companies is different to that of the Consultant, and this presents a challenge when you receive a cheque made out to you personally.

There are several reasons why this happens, and it is not always practical to return the cheque to the sender, so you need to ensure that you have a bank account which will accept those cheques.

The easiest way is that your company bank account will accept cheques made out to you personally.

If this is not available, open or set aside a personal account, that is used exclusively for your Private Practice.