How does an InvestEngine business account actually work?

[@SmallBusinessToolbox]

Think an InvestEngine account would be a good fit for your business? Please use this link - thank you! (affiliate link, more info in description) smallbusinesstoolbox.uk/links/investengine By signing up via the above link, you will receive a Welcome Bonus of up to £100 when you invest your first £100 (Capital at risk, Ts&Cs apply). You can also use this link to claim an ISA welcome bonus of up to £50.

[@basicsurfer08]

very helpful...did you try money fund market? its 4.75% interest on there -- maybe do a video for the same?

[@jimboyuk1]

Nice, just opened 2 new business accounts using your link. I was about to open one with iii but they charge £30 a year and also I would have had to pay a third party to get an LEi number. The InvestEngine application process seems in the first instance a lot more seemless than iii

[@steve6375]

Interesting. If investing in a USA ETF that pays dividends, do you still pay 15% withholding tax and need to fill in a W8BEN form same as a personal account? A popular Money Market Fund ETF is CSH2 which currently pays about 5%

[@SmallBusinessToolbox]

As usual, not accounting / financial advice. But I think since InvestEngine are UK based they sort all that shizzle out. I don't think you'd need to get involved with that but I'll try to find out! 👍

[@andydriscoll1903]

Legal Entity Identifier! What the chuff, what is your company reg number or UTR for. Not a criticism of you or InvestEngine but the red tape we have get through to manage our own money, huff!

[@SmallBusinessToolbox]

Yeah, trouble is it's so easy to set up a limited company these days literally anyone can do it. But not sure what extra checks an LEI gives! 😁

[@Jules_Pew]

You will have the joy of calculating deferred taxation for limited companies - the amount of tax if you sold them at the year end. Total waste of time, but them's the rules. Also be careful you don't earn too much or you become an investment company. Thanks for the heads up - that's the type of investment/stockbroker I was looking for personally. Not sure your code will work personally, but I'll try next week.

[@SmallBusinessToolbox]

Awesome info! Interesting. Yeah I think 20% of total assets is the magic number otherwise you're considered as an investment company. I think! 👍

[@keitho77]

Wait!.....Am I first?

[@SmallBusinessToolbox]

Aw, not quite! Previous comment was quarantined. 😁