2 new ltd companies - correct structure or other option?

[Benjib]

Hi everyone, I've recently registered 2 new ltd companies in preparation for a new project however I'm wondering if I've done it correctly.

I don't yet have a "dedicated" business account, if I opened one account how do I get round using it for both companies?

Or would it be better to use one "general" ltd company and then just use trading as names?

 

[Scalloway]

Having two companies means having twice the admin overhead. I would just use trading names.

 

[Benjib]

Having two companies means having twice the admin overhead. I would just use trading names.

Easier to close one of the companies then change the name of the other?

 

[Scalloway]

Yes.

 

[thelegalstop]

I would agree, the solution seems to be better for admin and costs, provided the project does not require two different legal entities to operate successfully.