My wife has a small hairdressing business that she runs from home working alone and less than full time. She doesn't turn over big money but it gets us some nice holidays every year. A few years ago she had a much larger business with a few staff and a turnover in excess of £250k. At that time she had a business account. But since downgrading to working from home we now mix her business banking with our joint personal account. This saves any bank charges, and in fact the bank pays interest on balances. I've read in many places that it's a bad idea to mix personal and business bank accounts, but the reasons provided seem pretty feeble to me. The main reason, they say, is to make it easier to keep track of the business accounts. But I have accounting software that I use for everything - business and personal. It's easy to use and very easy to extract everything I need when completing my wife's tax return for instance. I keep on top of all our personal and her business finances all the time. We can't envisage a time when we'll ever have to borrow money for the business, and she's never needed overdraft facilities (even when she had the big salon). So is there any reason why she should have a separate business account?