Originally posted by BolshieBastard
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Previously on "Starting another business, keep the same bank account?"
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It is not even clear what the OP is trying to do.
Why do you even think you need a new company? Unless you plan to diversify into something totally unrelated, you can use the existing setup.
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Originally posted by ItRYmyBEst View PostI have a contracting business and want to start another companie as a startup. Can I use my existing company and bank account or should I make it all fresh and new with companies made simple and another bank account and PI insurance?
This will make it easy for your accountant or yourself to create the end of year accounts into the two or more income streams.
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Have a look in the Accounting section. The same situation is being discussed in the top thread as I type this. See if that helps.
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Originally posted by northernladuk View PostSo we are assuming you are using your existing LTD as the account belongs to the LTD not to you. If that's the case there is another thread on exactly the same topic going on right now.
Plus all the others that can be found via the search but I didn't say that.
Contractor sideline business – start new company? | Chris Maslin's blog
I think that if I were to keep 1 company I could set up a trading name, and since I am IT contractor and my "new" company is an IT startup, I think I can still use my IT flat rate?
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So we are assuming you are using your existing LTD as the account belongs to the LTD not to you. If that's the case there is another thread on exactly the same topic going on right now.
Plus all the others that can be found via the search but I didn't say that.
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Starting another business, keep the same bank account?
I have a contracting business and want to start another companie as a startup. Can I use my existing company and bank account or should I make it all fresh and new with companies made simple and another bank account and PI insurance?Tags: None
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