Wednesday, September 9, 2009

I have a cheque on the name of my company, which was established one week after the check was drawn? -

I have one cheque on the name of my company. But I established my company one week after the cheque was drawn. Do you think that there will be a problem in the bank to take my money.Thanks for your responses!

No.(Paul ,i think he s saying that someone has paid him by cheque in his company name which his bank has just opened.)

The bank will accept any cheque where the payee name matches the name on the account. It will not matter that the company was formed or the account opened after the cheque was written.But, a company cannot be liable or be bound for anything that happened before it was created. So if you have this cheque because you have made an agreement or done work it is you not the company that is bound and liable. This might not be a problem, but if things go wrong you might end up with a nasty surprise. You will also need to carefully consider how this income will be taxed - it is probably your personal income and not company income.

Really? You think banks do a companies house search on every cheque to see when the company was established?

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