Need some advice about a new company idea.

Starleisureltd · #1 03-02-2010, 07:40 PM

Hi peeps,

I have an idea that i have been trialing out and after a good long chat today may have gained a contact who can supply me with lots of ongoing work.

For the last 6 months ive been PAT testing a few of my customers to gain some extra cash and help my main company keep old customers sweet.

I know if used as an addon to what i do now i can make a few extra pennies.

What i want to know is as its my idea and only myself will be doing the work i dont want it added to my current company to loose 50% profit on my hard work.

So question is whats the best way to set this up as a new company?

Im currently self employed.

#2 03-02-2010, 07:54 PM

Edit: Clarified this post privately.

#3 03-02-2010, 08:02 PM

Quote:

So question is whats the best way to set this up as a new company?

Hi mate, when you say the best way are you looking for the most tax efficient way or the best legal way etc?

Starleisureltd · #4 03-02-2010, 08:04 PM

Was more thinking legal way.

Would i just pick a name and let HRMC know or would it be better to form a ltd?

#5 03-02-2010, 08:10 PM

For the record, I am answering this with probably more information than is obvious from this thread and with that in mind, I believe you may well be better setting up a new totally separate legal body, ie create a new Limited company.

Starleisureltd · #6 03-02-2010, 08:12 PM

Quote:

Originally Posted by IP

For the record, I am answering this with probably more information than is obvious from this thread and with that in mind, I believe you may well be better setting up a new totally separate legal body, ie create a new Limited company.

Thankyou.