Need some clarification

andystephens

Hello,

My partner asked my a question, and I actually did not know the answer. Here it is. She wants to run a business for a couple of years, keep it while she runs another business which is seperate. So there will be 2 totally different businesses going. Right, what happens from there. Can she run them under a umbrella group?

E.g. Lamsens would be the umbrella
Then the 2 businesses under there.

She just wants to know how it all works.

Thanks

Kilty_2

Depends how she is running them, ie ltd, etc.

If she's just a sole trader, keep seperate accounts and file them as two seperate businesses on tax return (you can definately do this using online self asessment, not sure if you need to ask for extra forms when using the paper based version).

Otherwise I'm not sure.

LittleVoice

Limited companies can own limited companies, so you could do that.

But this would not seem worth it for a relatively small set-up.