Quick accountancy question

Accounting
1

Dear QF Gurus

I’ve just switched business bank accounts from RBS to Starling, as mine was one of the accounts that RBS needed to get rid of… I got a very nice £750 enticement from Starling Bank, but I’m now at a loss as to how to tag it in my accounts as it is effectively unearned income and I’m fairly certain I shouldn’t be paying VAT on it (or am I wrong?)

Help!

Carri

2

Hi Carri,

You would need to check this with an accountant, there may be a few ways you can account for it but they would be the best to advise.

I wasn’t aware that Starling were offering things like that… lucky you :slight_smile:

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3

4900 Miscellaneous Income will do

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