Money transfer from Personal to Business

[kaps84]

Hi All,

I have a question to ask, here you go -

I have a personal joint account with my wife.
My Wife is not related to the business whatsoever.

Assume:
My Name: Mr. Jack Peoh
Wife's Name: Mrs. Sammy Nole

Whenever, I transfer any money from this joint account to my business account, it reflects something like this:

In the Business Bank Account:
Peoh&Nole - £XXXXX.00
Directors Loan

My Surname & Wife's Surname

Is that a problem? - Not showing my full name clearly !

In the personal bank statement, transaction looks like:
DBSMAC LTD - £XXXXX.00
DIRECTORS LOAN

However, Our personal bank statement clearly shows our full name:

Account Name:
Mr Jack Peoh & Mrs. Sammy Nole

[zimba]

It's fine as it shows that money came from a joint account

[kaps84]

Thanks Zimba88, as always !

Do you think I should take a letter from my wife stating that the money transferred does belong to my husband (i.e. enterprenuer) and he is fully authorized to use that money for business purposes. and that she has no objection. ?

or I have also seen people quoting on this forum that they take a letter from bank stating that they are signatory in the account (not sure if it is for business account).

Thinking about the above only to clarify to the Case Worker that its my money and I am fully authorized to use it, though it is in the joint account.

Do you see any merit?

[zimba]

If you have a joint account then that is implied. There is no need to get that letter as it will not be considered. the requirement is to send business bank statements