Will this work?

[emmaspost]

How about I have a MB account for a UK company but add a different bank account of an offshore company and wire the sales to the offshore account? Do you think this is possible? I read on this forum that it is possible to add multiple accounts to MB and someone had added their Cyprus account as well.

 

[emmaspost]

Please can someone help with my question?

 

[alibran]

It might work in the sense that MB would allow you to do it. I don't know personally, having never used them.


But it would be a weakness in your privacy because your MB account would show a link between your UK and offshore companies. And since the MB account is in the name of the UK company, the Inland Revenue could probably argue that the money coming into that account is income for the UK company even if it never lands in that company's bank account.


This forum is very quiet at weekends, which is why no-one replied yesterday, and probably no-one else will reply today either.

 

[emmaspost]

Thanks for your reply. How would Inland revenue know what happens in the MB account if I never withdraw the money to my main UK company account. What I'm asking is how would they even know I have a MB account if I don't have a trail of having the MB account in the first place?

 

[alibran]

I was assuming you've used the MB account with your UK company - at least, that's what I took your first post to mean. So your company bank statements will show movement of money between your bank account and your MB account.


There are a lot of "ifs" involved in this, but what it comes down to is that if you were investigated for whatever reason, and you'd used the MB account for both your UK and offshore businesses, the trail would be easy to find.

 

[emmaspost]

No, I never use the MB account with the UK company. New MB account that is validated direct with the offshore bank account. UK company bank statements has no record of it, only records will be with MB.

 

[stuntbiker]

I have 2 bank accounts for 2 different banks but same country in my Moneybookers.

 

[blainchain]

2 different banks with 1 moneybookers account.......... how did you managed that?