I have recently sold some company assets (not a large figure) and the buyer insisted on paying cash.
My question is, my BUSINESS bank charge 0.6% on cash deposits, which is annoying - In theory, is there anything wrong with paying the cash into my personal account (I am the sole director of the company) and then doing a bank transfer (which they do not charge for) of that amount direct to the company account? as long as this is documented, is there any reason I shouldn't?
Both accounts are in my name, and with the same bank (HSBC, UK).
(This is a hypothetical question really, I will almost definitely just deposit the cash direct to the account) I Know I COULD just hold the cash, and use it for bills etc, but then there is an accounting gap that would need to be addressed.