This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more hereX

Home > Discussion Forum

Discussion Forum

Showgirl4 Showgirl4 is offline
Entrepreneur
Join Date: Nov 2005
Posts: 32
Company formation question

Hello all

If you have a ltd company that is all set up with a reg no, bank account and VAT, no can you set up another one underneath it?

So for instance, Widgets ltd sells widgets and is all set up to do so, could you set up Widgets ltd trading as Design UK from it also. They offer seperate services and will be open business running at the same time. Also, if you can do that, is there a way that you could tell HMRC and get seperate returns for it? Might be pushing it slightly here, but want to offer another service without setting up a whole new company and applying for another VAT no.

Anyone?
__________________
Lola Fayemi
Business Coach
Urban Spirit Holistic Harmony

Create the business of your dreams

Try Business Coaching for yourself with a FREE no obligation Coaching Consultation.
Click here to email me.
Reply With Quote
shaunrigby87 shaunrigby87 is offline
Newbie
Join Date: Apr 2008
Posts: 8
Yes that is possible, but i think you have to put on all formal documents such as letterheads etc foobar is a trading name of widgets ltd, company no: blah blah blah
Reply With Quote
James Smith's Avatar James Smith James Smith is offline
Connector
Join Date: Mar 2003
Location: Abingdon, Oxfordshire
Posts: 2,044
You can do this, however the far bigger question is whether or not it is appropraite in your circumstances?

This is very much a "speak to your accountant in detail" type question there are several pros and cons of doing this/having both trades in one company/having new company B not owned by company A but you owning it directly/having the other activity as a sole trade or partnership.

The correct answer for you will be entirely dependant on what you are doing and where you plan to go with the busienss, unformalty the second you get into limited companies as opposed to sole trades it gets very complicated and it is important that you take proper advice rather than trying to put this together yourself.

NB I know this sounds like an advert but I earn significantly more money sorting out a bad structure as I do advising on the correct one, which I often do without charge anyway. If you have a good accountant they may well do the same for you.

Regards,
Reply With Quote
Showgirl4 Showgirl4 is offline
Entrepreneur
Join Date: Nov 2005
Posts: 32
Thanks for the advice guys. James it's alright, I don't think you're selling and I am on the lookout for a new Accountant at the moment so will proably email you about it real soon .
__________________
Lola Fayemi
Business Coach
Urban Spirit Holistic Harmony

Create the business of your dreams

Try Business Coaching for yourself with a FREE no obligation Coaching Consultation.
Click here to email me.
Reply With Quote
James Smith's Avatar James Smith James Smith is offline
Connector
Join Date: Mar 2003
Location: Abingdon, Oxfordshire
Posts: 2,044
ok be pleased to have a chat to make sure you are going about things in the right way for your business.

Regards,
Reply With Quote
openmind's Avatar openmind openmind is offline
Connector
Join Date: May 2004
Location: In front of my computer
Posts: 3,480
RE: looking for an accountant, James is highly recommended. I've dealt with him from day one and he has quite literally saved me thousands of pounds...

With regards to your question showgirl, I have a Limited company and then several sites operating under different names below it so Open Minded Solutions is the LTD and then I have Open Mind Hosting, Open Mind Domains, etc.

On invoices and communications/sites I just make clear that the site is a trading name of my LTD.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT +1. The time now is 10:41 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd. Copyright Shell LiveWIRE 2005-2009