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

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

    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!

    #2
    I don't think being a peeping Tom is the same trade as IT consultant so probably need a new company.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

    Comment


      #3
      Seriously?
      https://uk.linkedin.com/in/andyhallett

      Comment


        #4
        Just have a think.... are there any companies you can name that have more than one line of business????

        Your answer is there...
        See You Next Tuesday

        Comment


          #5
          Mercedes have been building ventilators.

          They would have delivered them a day earlier but they were waiting to get their new Limited Company setup.
          https://uk.linkedin.com/in/andyhallett

          Comment


            #6
            Originally posted by Andy Hallett View Post
            Mercedes have been building ventilators.

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

            Comment


              #7
              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.

              Comment


                #8
                Originally posted by Manic View Post
                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.

                Comment


                  #9
                  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.
                  When freedom comes along, don't PISH in the water supply.....

                  Comment


                    #10
                    I'll just leave this here....

                    Originally posted by TestMangler View Post
                    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.
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

                    Comment

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