You can manage more than one venture in the app by opening a second account, provided you meet specific criteria. We currently support up to two accounts to help you keep your different business finances separate. 🚀
Eligibility for a second account
You can apply for a second account if:
You have a limited company account: This can be currently active or closed. If the account is open, it must be in good standing.
You previously had a sole trader account: This account must be closed before you can open a new one for a different business structure.
Note: We don't currently support multiple sole trader accounts. If you already run a sole trader business, you cannot open a second account for another sole trader venture at this time.
Requirements for the second business
To ensure we can support your second venture, it must meet the following requirements:
Business Structure: The second account must be for a limited company.
Ownership: The company can have a maximum of two Persons of Significant Control (PSC).
Your Role: You must be listed on Companies House as both a Company Director and a Person of Significant Control (PSC) for the new company. 🧑💼
By meeting these requirements, you can keep your dividends, expenses, and tax obligations strictly separated for each legal entity. ✅