Change of name

[Sls]

Hi everyone im looking for some advice please. Ive ran my small business for almost 3 years now, ive been selling primarily 1 type of product but within the last year ive added a new line of products. Ive now decided i want to just sell the new line of products, this would mean i have to change the business name. Or do i need to register as a new business? And what do i do when it comes to my tax return etc Im really in the dark about this so any advice would be greatly received. Thankyou for your time

 

[apricot]

I always recommend to keep the brand name seperate than business name. You can always change the brand name and you can add new brands to your business but you do want to keep your business name the same all the time.

 

[Sls]

I always recommend to keep the brand name seperate than business name. You can always change the brand name and you can add new brands to your business but you do want to keep your business name the same all the time.

Thanks for your reply, i think I really need to change the name as it has nothing to do with the new things i sell, and the name is a huge factor to me. (I am a very small business as i only do it part time) so just wondering if i could change the name or if i would have to register it as a new business. Different people have told me different things! Thanks

 

[dotcomdude]

Are you trading as a limited company?

 

[Sls]

Are you trading as a limited company?

No, just a sole trader

 

[Panoramix IP]

Registering a limited company would be a very good idea to limit your personal liability. The company name doesn’t need to have anything to do with your products. Google’s company name is Alphabet! What you should do is register the trade mark of your brand names to give you a monopoly over those brands in connection with particular goods and services. You can do that as a sole trader too if you don’t register a limited company.

 

[zomex]

It is quite hard to give a suggestion without knowing more specifics such as the names and type of business. From your responses it seems like your gut is telling you to change the name so that may be the best option.

I also follow the same advice of multiple brand names under a single limited company.