Future business ideas for a contractor

[prozak]

XXX is always a good idea, just like the oldest profession it's not going anywhere anytime soon...


Massage parlour for disabled, just like the ones Berlin, perhaps?

hahaha....

[prozak]

Now that is what I want to do but it's finding something that is the massive problem.
I have the funds so if anybody's got the idea let me know

sailing is my passion and where I would most like to head to....

Not much money in it though which is why i've not made the jump yet.... also very capital intensive if you are wanting to have your own yachts.

[amyth]

Now that is what I want to do but it's finding something that is the massive problem.
I have the funds so if anybody's got the idea let me know

Having just started contracting (LTD CO), I feel more motivated to come up with an idea and start something compared to when I was a permie. Making money for someone else just didn't give any kick! The missus is going to qualify as an Actuary soon, I've been pushing her to find me a niche in the Insurance and Investments world.

[pastalista]

Care needed

Having just started contracting (LTD CO), I feel more motivated to come up with an idea and start something compared to when I was a permie. Making money for someone else just didn't give any kick! The missus is going to qualify as an Actuary soon, I've been pushing her to find me a niche in the Insurance and Investments world.

Care is required in how the money from a Co a/c is invested in a new business though. I did it a few years ago (my limited invested in another company in the music business) and although my accountant had 7 meetings with HMRC after which they agreed, in writing that it was a "legitimate business", when it came to it, they decided that it was "actually a hobby" and I couldn't use the investment as a loss (which is what it had sadly become) thus resulting in a large and unexpected tax and VAT bill (couldn't reclaim as I had been led to believe).

No amount of argument would sway them and despite showing them the letter and threatening legal action, they wouldn't budge. I guess they don't have to worry about who pays their legal bills so why should they care?

I don't mean to bring the mood down as investing in something else so that I am not entirely reliant on one business is something very dear to me. I just wanted to issue the warning.

Pastalista