rikki started this topic @ 19:43 on 20/08/2004
Hi All,
Just a quick question, I along with my partner own DCHG ltd, which mainly supplies cleaning products to local business, however the cleaning side mainly gets busy in the winter months, so i also bought 2 marquee's to hire out and as a result have obtained enough dates to pay a good wage for next summer thanks to the local council.
But should i set up another company to trade the marquee hire or can i invoice for the marquee's through DCHG Ltd, I havent put the marquee's through the business yet as i bought them with personal funds.
What I really want to do is set up another divsion such as Local Marquee Hire T/A DCHG Ltd, is this legal and possible? Do i need to inform anyone? and i presume i would just charge VAT as standard, and pay it with my usual quartley payments.
Many Thanks
Richard Haigh
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DCHG Limited
UK Cleaning Supplies for Every Business - Large or Small
http://www.wholesale-cleaning.co.uk">HREF="http://www.wholesale-cleaning.co.uk">http://www.wholesale-cleaning.co.uk.......
Tel: 08700 461146 (Fax: 08700 461145)
RE: Trading Names For Ltd Companies
Ian J | 20/08/2004 08:26 PM
You don't need to set up another company for the marquee hire although to be strictly accurate you may have to amend the articles of association if they only state that the company is in business to sell cleaning stuff but that is only a technicality.
The correct style would be either DCHG Ltd t/a Local Marquee Hire or else Local Marquee Hire (a division of DCHG Ltd) and you don't really need to do anything else differently as Vat will be accounted for as normal
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Ian
Factoring ,
Invoice Discounting ,
Trade Finance and
Asset Finance specialist broker.
Founder member of
Independent Factoring Brokers Association
RE: RE: Trading Names For Ltd Companies
rikki | 20/08/2004 09:09 PM
Thanks Ian! Your input is very helpful,
As for the articles of memorandum, our solicitor did not declare our business sector. So that shouldnt need changing, ive sent him an email just to make sure!
Certainley Makes Things Easier! and saves on those all important expensive accountants bills! lol
Cheers
Richard Haigh
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DCHG Limited
UK Cleaning Supplies for Every Business - Large or Small
http://www.wholesale-cleaning.co.uk">HREF="http://www.wholesale-cleaning.co.uk">http://www.wholesale-cleaning.co.uk.......
Tel: 08700 461146 (Fax: 08700 461145)
RE: RE: Trading Names For Ltd Companies
James Smith | 23/08/2004 09:33 AM
One small thing to bear in mind - you need to be able to identify the profit (or otherwise) of each individual business, ie keep a separate list of sales for each activity. You will probably want to do this for management purposes anyway.
This is because you cannot offset losses from one against profits from the other.
Regards,
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773
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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT
