Single Ltd co that does different things?

[DallasDad]

I read the OP, Q as doing very different types of work under one ltd in relation to setting up his/her MyCo. Where you need to provide details of what the company does, IT consultancy etc, to companies house, Banks and so on
Ditto if registering for the vat frs?

Or does the type of work have no real bearing?

[matty]

ok interesting - is only a thought tbh so I will indeed ask my accountant nluk (am speaking to them today to get things moving). I suspect the way it may play out then is do the money earner PM contracting for a bit, build up a cash reserve and then maybe take some time out to try and get a coaching consultancy up and running. Or maybe just keep contracting and earning!! And yes, very happy with my work life balance lol! be even happier once contracting and not faffing with career progression 'promises'

[northernladuk]

* As a life coach you probably have this aspect nailed though.

Lol.. Very good.

Matty, It's not easy to get part time contracts though. They are out there but if you are banking on doing this regularly over a long period it's going to be tough. They generally want a resource to complete a task as soon as they can.

Once you've built up a network of clients you've got a much better chance of working with them to work a plan of delivery to suit you both rather than the the job boards that just want a bum on seat full time.

[northernladuk]

Erm... Depends on what kind of income you've got coming in. Maybe your accountant who knows your accounts is best placed to help?

Doh!!!... Didn't see it was you Matty. Forget that lol

[Contreras]

Hi all... I have several strings to my bow - in particular IT and coaching (life / corporate etc). If I wanted to be able to do both, could I do them both from the same company or do they / should they be separate companies?

For example, let's say I managed to get a 4d/wk IT contract and provided some coaching somewhere else on the other day.

No need for two companies.

The problem with concurrent contracts however can be managing the continual context switches as well as client expectations each wanting 'best use' of you on the on-days.*

If it were me, a 4d/wk would mean 3-day weekend, or extra time to work on plan b. Concurrent 2day + 2day contracts would be doable but difficult to come by.

* As a life coach you probably have this aspect nailed though.

[northernladuk]

Erm... Depends on what kind of income you've got coming in. Maybe your accountant who knows your accounts is best placed to help?

[matty]

Hi all... I have several strings to my bow - in particular IT and coaching (life / corporate etc). If I wanted to be able to do both, could I do them both from the same company or do they / should they be separate companies?

For example, let's say I managed to get a 4d/wk IT contract and provided some coaching somewhere else on the other day.