TFG doesn't accept Sole Proprietors?

<p>I need someone with common sense and knowledge from The Foschini Group to explain omething to me please since it seems that my limited brain and understanding can't get a grip on this...<br /><br />I am an individual with a non-registered business as a Sole Proprietor.</p> <p> </p> <p>As few months ago I went to SARS to register for Provisional Income Tax for the very first time. I had all the required documentation including my latest bank statements to have this done.</p> <p> </p> <p>SARS declined my bank statements since my bank account is a business bank account and it stated my trading business name as the account name, not my personal name. The fact that my business is not registered and thus in my personal capacity, with a letter from the bank that I am the account holder and the responsibile person for the bank account, didn't matter to them.<br /><br />So I went to my bank and we changed the bank account name to RN Oosthuizen T/A My Business Name. SARS accepted.<br /><br />Yesterday I went to TotalSports to open a clothing account, and as usual, I tool all required documentation with me.<br /><br />The assistant and I went through the questionaire and I indicated that I am a Sole Protrietor, which I am. I don't have things like payslips. My business is not registered and I use the same bank account for business activities as well as personal use.<br /><br />I went a step further and asked the bank to give me a letter of good standing which states the total income over the last year so that anyone could at least work out an average monthly income. This amount is well above R40k/month if that helps anything.<br /><br />The documents and application were sent through and the assistant kindly informed me I will hear back from them. "They approved the account pending income verification" was his words.<br /><br />Late last night I received an SMS that states "Your account application has been approved, pending proof of income for: June, May and April. Please go to any TOTALSPORTS (PTY) Ltd with your documents and ID."<br /><br />This was strange for me as we submitted all bank statements including the letter of good standing from my bank?<br /><br />I went to the same store and the lady phoned what I believe is their Customer Care Centre or Accounts Department working on the application, I'm not sure.<br /><br />The lady stated that they require bank statements in my personal name, a financial statement indicating my income, or a letter from SARS declaring my income.<br /><br />Now what beats me is:<br /><br />Firstly, my bank statements clearly states "RN Oosthuizen T/A My Business Name" stated as the account name (which was accepted by SARS). The business is not a registered entity which means the account belongs to me personally, regardless of whether this is a business bank account.<br /><br />Secondly, since my business or Sole Proprietorship is not registered, I don't need or even have an Accountant. Where must I get financial statements from? I have a personal budgeting application to keep track of my income and expenses, and an invoicing application I use to keep track of business activities. My financial statements according to me for my personal Sole Proprietorship ARE my bank statements? What else do you want?<br /><br />Lastly, this is the first year for this sole proprietorship running, so my first income submission to SARS will only be at the end of this financial year. Where must I get an Income Declaration from SARS for this if I haven't even submitted my first Income Report to SARS yet?<br /><br />"Sir, it is our company policy that we cannot accept bank statements from a business bank account, regardless if you are running a Sole Proprietorship or the fact that your personal name appears on the bank statements. It's because there is a T/A on the statement that we cannot accept your documents." is what I got from the Supervisor at Validations Department of TFG, called Xavier Fylvester.<br /><br />So given the above, I have come to the following conclusion:<br /><br />1. A Sole Proprietor is not able to get an account at TFG if he uses a business bank account although his name clearly reflects on the bank statements. Remember he is a Sole Proprietor of a NON-registered business, thus every activity is conducted under his personal name RN Oosthuizen T/A My Business Name.<br /><br />2. Bank statements clearly reflecting a personal name on the statement is not sufficient income proof for that person, regardless of what type of bank account it is. The fact that it is a business bank account is irrelevant since the business is not a registered entity, it is in my personal capacity.<br /><br />3. This bank account doesn't belong to anyone since the business name it states in the name of the account is not a legal entity, and it is definitely not my personal bank account since it reflects a business name (that doesn't exist).<br /><br />Please help me understand this.</p>