Company Formations

[ronetw]

Hi All
I've got an idea to create a new and interesting product... I don't want to say much but my vision of it is that it will change the way in which we communicate. However, I want to form another limited company.. my current company is doing well and I'm hoping this continues.

My question is can I pay to form the new company from the proceeds of my current company?? If anyone has any thoughts please let me know.

[James Smith]

"I've got an idea"

In which case to put it bluntly you dont have a trading business, and dont need a new limited company.

Generally intellectual property is best developed personally in any case, not only for tax but cost considerations.

Talk to you accountant (I assume you must have one due to your existing company) about whether to put this into your current company, or keep it personal.

Regards,