can you run 2 different businesses at the same time?

March2012

one ltd one and one self employed one? thanks in advance.

cbrown372

I think you would call the "self employed" business a sole trader and yes.

PlutoinCapricorn

Yes, and you can also be employed and on PAYE if you have the energy. You just need to register with the right authorities.

HappyMJ

Yes, but if the businesses are related doing almost the same thing and one (such as the ltd. company) is registered for VAT and one (such as you as a sole trader) is not registered for VAT then you might have some trouble with the HMRC.

March2012

maintenance are these considered similar?

HappyMJ wrote: »

Yes, but if the businesses are related doing almost the same thing and one (such as the ltd. company) is registered for VAT and one (such as you as a sole trader) is not registered for VAT then you might have some trouble with the HMRC.

HappyMJ

March2012 wrote: »

if one is property development and one is maintenance are these considered similar?

Not sure..They are both to do with property and do to me sound very similar. The HMRC will be able to clarify that one. Is there any reason you want these two to be seperate entities?

March2012

the VAt for goods you purchase. so wondering if this would be a good way to recoup some of the money on kitchens/bathrooms.

HappyMJ wrote: »

Not sure..They are both to do with property and do to me sound very similar. The HMRC will be able to clarify that one. Is there any reason you want these two to be seperate entities?

Russe11

you can not split businesses to avoid VAT.

how would you "recoup", you pass this onto the customer who pays the VAT.

Are you saying you want purchase materials through a LTD company, claim the VAT back, then use the materials for soletrader purposes?

podperson

They are quite similar and I think you would have to answer questions from HMRC if the limited company was registered for VAT and the sole trader wasn't. Surely you are going to be using some of the same suppliers anyway - are you going to have separate trade accounts with them? Also, for example, if you have fitted a kitchen on the property development side and had some mats left over eg piping or something, is there no chance at all that they will ever be used for a repair on the maintenance side of things?