HL account - investing from ltd

proformance

Hi

To invest (profits) from my ltd, can I do it through my HL "Fund & Share" acct, or would I need to create a new HL account?

Many thanks,

Z

eskbanker

Surely with a limited company, its assets must be kept separate from those of an individual?

proformance

I don't know if so, or if I just separate in self assessment etc

eskbanker

But self-assessment relates only to the personal tax affairs of the individual, whereas limited companies have to file entirely separate annual accounts - do you have an accountant arranged to help with this?

george4064

You'll need to open a new corporate account in the name of your ltd company.

If you just use your own F&Share account (I.e. in your own name) it will be in your name from the point of view of HL, HMRC, and everyone else..

dunstonh

I don't know if so, or if I just separate in self assessment etc

You and your limited company are not one the same.   A limited company is its own entity.  If you take the money and invest it in your name then it will be subject to tax.

You also need to be careful of how you invest within a limited company.  Especially if the investment profits start to exceed the trading profits.

Also, it may be more suitable to hold an offshore bond wrapper than unwrapped in a limited company depending on the amount and your accounting method.

Steve182

You operate a ltd company, so presumably you have an accountant to explain this, rather than asking opinions from random people on a forum?

lr1277

Are you sure you can open an account for your company with HL? On their website, there does not seem to be any mention of accounts for Ltd companies. In fact the only 'mainstream' broker I found that offered accounts for a company was Interactive Investor.

I am not an expert but I did read that once a company opens a share dealing account, you get into Closed-End Investment fund terriroty. I don't know if that would be applicable in your situation.

And about 25 years ago, I worked with an IT contractor who took on some work outside his normal remit and he mentioned what I think he called the Articles of Incorporation were broad enough to cover this side hustle. Again, I don't know if this applies in your situation.

easterbunni

lr1277 said:

Are you sure you can open an account for your company with HL? On their website, there does not seem to be any mention of accounts for Ltd companies. In fact the only 'mainstream' broker I found that offered accounts for a company was Interactive Investor.

HL used to offer a corporate account, but it seemed to be pulled early on in the pandemic

waveneygnome

HL do offer them;  but as easterbunni stated, they have pulled them early on in the pandemic.

I've been phoning them once a month for the past year, and each time they tell me they are planning to re-instate......apparently its all about having enough personel in the office to do the checks when setting up new corporate accounts.