General Business Forum Brought to you by Salesforce

Ltd Company - diversification implications?

Discussion in 'General Business Forum' started by Steve Smales, Jan 10, 2021.

  1. Steve Smales

    Steve Smales UKBF Newcomer Free Member

    2 0
    Hello All,
    I wonder if I could take a view. The situation is that I have a limited company that has been trading for a year. I am the sole director and shareholder. My business is as a contracted consultant project manager to the public sector. I am VAT registered. My SIC code presently reflects my current work.
    I want to use some of the accrued monies in the business to use as capital to start up a new venture in a completely different sphere (construction type work in green sector). I need to invest about £15k in equipment, training and a commercial vehicle.

    I plan to operate in the new sphere using my existing business.

    Can I just get on with investment re my new direction or is there anything to consider?

    Thanks in anticipation.
     
    Posted: Jan 10, 2021 By: Steve Smales Member since: Jan 10, 2021
    #1
  2. Mr D

    Mr D UKBF Legend Free Member

    26,286 3,218
    Your company will be owning the new company or your company will be simply lending the money to a new company you own?
     
    Posted: Jan 10, 2021 By: Mr D Member since: Feb 12, 2017
    #2
  3. STDFR33

    STDFR33 UKBF Big Shot Free Member

    4,574 1,224
    If it’s within the same company, as you imply, VAT could be an issue.
     
    Posted: Jan 10, 2021 By: STDFR33 Member since: Aug 7, 2016
    #3
  4. Steve Smales

    Steve Smales UKBF Newcomer Free Member

    2 0
    It is within the same company
     
    Posted: Jan 11, 2021 By: Steve Smales Member since: Jan 10, 2021
    #4