sole trade and ltd company

jan777

can anyone help I have a ltd company which I used for a taxi business, it has not traded for years but still has a bit of money in it . I also sole trade in antiques . Can I change the use of the ltd company to antiques and still sole trade in antiques as well?

Nicola_Ed

Hi

The company articles will normally confirm that the company can trade in nearly all types of trade - so you can change the trade. ( Any taxi losses for tax purposes cannot be set against this trade) You may however, be creating other issues. Can you say why you want to trade as a sole trader and a company ?

thenudeone

Exactly what a company can and can't do will be set out in the Memorandum and Articles.

Most limited companies nowadays are set up with very wide terms to avoid being caught out but you need to check.