Freelance Ltd Company Advice

[ee0jmt]

I am wanting to start a business in the near future and I am also currently considering returning to contracting as a Software Engineer while I set up the business.

The business idea would be along the lines of online selling.

The question is if I set up as a limited company for the software contracting am I able to use the same ltd company for my new business idea which would be unrelated to software engineering. Or would I need to set up another Ltd company?

When I contracted previously under a Ltd company I registered on the flat rate VAT scheme. I can see that if the business takes off I would be better off registering under the normal VAT scheme so that I can claim back the VAT on stock items.

I would really appreciate any help and guidance!

James

 

[james_firmsites]

Hi James,

You can do anything with your company including multiple products/services, but it is generally best for ease of accounting etc to do similar things. Ie running one company to be a hairdressers and an offshore drilling company is technically legal although pretty silly. Running one limited company to do software coding and ecommerce work should be fine.

It's up to you to define what your company will do in the memorandum etc. This topic has come up before, the replies may help: http://www.ukbusinessforums.co.uk/threads/can-a-company-do-different-things.210508/

 

[ee0jmt]

Thanks James!

I appreciate your help.

 

[Topkwak]

Hi James
I work in the freelance industry, connecting UK freelancers and businesses. I know a very knowledgeable guy who is very savvy on this kind of stuff. He's called Christopher Joynes, owner of 123 Contracting. If you do call say Jack from Total Freelance sent you
All the best,
Jack