LTD company - Exploring other revenue streams

[snew]

Hi All,

I am considering importing and distributing some products from China, with the thought creating a new revenue stream for my ltd company or setting up a separate business.

Do you know if I can use my ltd company money to order samples, develop a website, branding etc?
Can the other revenue stream be set up withing my current ltd company or does it need to be a separate entity as it is in a completely different industry?

Many thanks,
Snew

[ladymuck]

There's no reason why you can't use a single ltd co to run multiple income streams. You may need to adjust some of the categorisation on your CoHo annual returns or consider how to calculate how much VAT to hand over if you're on the flat rate scheme but otherwise, just good clear record keeping is all you need.

Consider using an accounts package to which you can assign 'codes' to purchases and sales so you can obtain meaningful data on your various schemes.

[northernladuk]

Wouldn't your accountant be the best place to get advice? We could say yes which with then lead to other more detailed questions or scenarios. Your accountant could deal with it all end to end.