SET UP UK LIMITED COMPANY - BEST SIC CODE TO USE

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piovis

  • #1
    Hi! I hope you can help answer this. Here's the scenario, "I would like to set up a limited company in the UK (lets call it company b), with the sole purpose of investing excess profits into stocks and shares from another company, that I own (let's call this company a)". My question is what is the most accurate and the best industry SIC code to use - which banks would be comfortable with for opening a business bank account? and also which uk bank is most likely to allow me to open a business account for company b? Thank you for helping!
     
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    Unless the profits are very sizeable have you considered a personal SIPP for you through Company A. Why do you need a separate business (complexity of transfer of monies/services between the two etc.), businesses can make investments with their capital if they have an excess of it. Most famously Tesla put a shed load into Bitcoin recently, dont think that ended well but nonetheless they did.
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    SillyBill

    Free Member
    Dec 11, 2019
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  • #2
    Unless the profits are very sizeable have you considered a personal SIPP for you through Company A. Why do you need a separate business (complexity of transfer of monies/services between the two etc.), businesses can make investments with their capital if they have an excess of it. Most famously Tesla put a shed load into Bitcoin recently, dont think that ended well but nonetheless they did.
     
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