Can you diversify a ltd company or do you need to do the same thing?

[northernladuk]

Preloved?

Well tested...

[eek]

Twat

That article is about selling services. I wasn't providing any services with said dildos, other than delivery via royal mail. This was on a strictly 'product only' basis.

Preloved?

[TestMangler]

I'll just leave this here....

You Are What You Sell

Twat

That article is about selling services. I wasn't providing any services with said dildos, other than delivery via royal mail. This was on a strictly 'product only' basis.

[northernladuk]

I'll just leave this here....

True story........back in 1999-2003, my contracting LTD also sold dildos online.

You Are What You Sell

They don't just judge the salesperson as a human being or as a seller. They judge the salesperson as the living embodiment of the product.

[TestMangler]

True story........back in 1999-2003, my contracting LTD also sold dildos online.

It did make for a properly hilarious moment during a VAT inspection, but no other issues with this diversification.

[ladymuck]

You can do what you like trading wise (within the law of course). The issue is where you operate flat rate VAT and diversify into a sector which has a higher flat rate applied. IT Consulting has one of the highest flat rates applied and contracting would normally fall into the limited cost business rules so unlikely to be an issue.

Obviously if on standard VAT scheme, not a consideration.

And you may need to change the SIC on CoHo to reflect the range of business activities if you don't have something generic enough selected.

[Manic]

You can do what you like trading wise (within the law of course). The issue is where you operate flat rate VAT and diversify into a sector which has a higher flat rate applied. IT Consulting has one of the highest flat rates applied and contracting would normally fall into the limited cost business rules so unlikely to be an issue.

Obviously if on standard VAT scheme, not a consideration.

[ladymuck]

Mercedes have been building ventilators.

They would have delivered them a day earlier but they were waiting to get their new Limited Company setup.

[Andy Hallett]

Mercedes have been building ventilators.

They would have delivered them a day earlier but they were waiting to get their new Limited Company setup.

[Lance]

Just have a think.... are there any companies you can name that have more than one line of business????

Your answer is there...

[Andy Hallett]

Seriously?

[northernladuk]

I don't think being a peeping Tom is the same trade as IT consultant so probably need a new company.

[HMRCWOT]

Hi,

I have a limited uk company that I use to provide IT services (contracting).

I am thinking about investing in some equipment and installing it at peoples homes, can I do this through my existing company or do I need to start a new one?

Thanks!