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Limited Company with more than one business

Limited Company with more than one business

I ve never experienced this scenario before and am looking for information and suggestions pertaining to this!

Client has a Limited Company and was working in the oil industry. As this has fallen flat he wishes to start another business promoting health 

foods and associated health products. 

He wishes to continue with the business running under his limited company but with a different name?

Is this possible and can anyone pinpoint me in the direction of the pitfalls if any?

What does this involve with regards bank accounts and also corporation tax and can he offset any money from the limited company

to use as start up costs for the new business.

Can the losses only be offset against losses of that same business in a different year or could it be possible to offset losses against

each company (if there are any losses that is)

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08th Mar 2016 08:59

Yes he can use the same company if he wishes.

If the company has any b/fwd tax losses arising from the old trade it will not be able to offset them against profits from the new trade.

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By RFL H
08th Mar 2016 09:14

Re the different name

The company can have trading divisions - state on stationery "A trading division of XYZ Ltd" in small print with the trading name taking full prominence.

Or the company name can be changed at Companies House.

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