Having two different businesses under one LTD

flashgordon666

Hi,

I have a LTD business that is currently developing a game due out next year and another sole trade business which is a food business.

I want to have the food as a LTD too.

1. Should I have two seprate LTD companys? The estimated TO of game is could be £100k, the food could be £40k PA

2. If they are both under one LTD, does that mean if I get sued or there is a problem with one business it will effect the other.

3. Can you have two completely different businesses under one LTD.

Thank you for any help.

pphillips

I think having two completely different types of businesses under one Ltd is a terrible idea. I don't know why you would want that, as you could be joining one failing company to a successful one. As you already identify - if one gets sued, they both get sued!

unforeseen

1. Yes
2. Yes. There is only one company but with two separate interests.
3. Yes, but what you really have is one single company working in two different areas.

As far as HMRC and the world is concerned there is just a single company that sells games and food. An odd combination to most people.
Money wise the company will only have one set of accounts covering both areas. 

whitesmith

Absolutely no problem doing this - many many companies trade in different areas. Edit: yes if the company is sued for whatever reason all assets etc will be at risk.