Running multiple income streams through the company

[simes]

Having just gone through the BTL ringer when buying through the LtdCo, and the whole Special Purpose Vehicle thing which for most lenders is a requirement, is there any major thing to consider in reference to the SIC codes?

Not that I personally would give a damn and I would just invoice, but such is the passion of lenders to lend to a LtdCo with a SIC code dedicated to property and renting, I wonder just how far these things are policed?

[Maslins]

Yeah legally you're fine to do this, though as suggested above where clients are very different, sometimes VAT can be a good reason to separate. Worth discussing with any teaching agencies, as I imagine many of their suppliers (ie the teachers) won't be VAT registered.

[cannon999]

No real reason why not, I do that with the limited income I make from Photography!

The only thing I would say though is that she might be better operating on her own if it was photography as it’s really a market where not charging VAT makes a big difference.

I see. But with supply teaching - she would most likely work with agencies so she could charge VAT to them?

[cmscotland]

I am currently contracted with a client which is the main income stream for the company. Me and my spouse are both shareholders. If she was to start a photography business (or do something else, let's say supply teaching) - could she run her income through our company?

Thanks

No real reason why not, I do that with the limited income I make from Photography!

The only thing I would say though is that she might be better operating on her own if it was photography as it’s really a market where not charging VAT makes a big difference.

[cannon999]

I am currently contracted with a client which is the main income stream for the company. Me and my spouse are both shareholders. If she was to start a photography business (or do something else, let's say supply teaching) - could she run her income through our company?

Thanks