There is nothing to stop you having a limited company and a partnership but it sounds like there are a few things you need to look at first. Because of the cost of the limited company (more accounting requirements and setting up fees etc)is it worth you doing this at the start or should you consider a partnership until the business has a turnover? Either way how are you going to split the partnership work from that you do for yourself? Is there a partnership agreement and if so does it deal with how the work is allocated fairly? Lime One Ltd www.limeone.com 0870 240 4325
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LawHound Limited www.lawhound.co.uk
01244 300413

The Ltd company I want to start is with my Father. We both own our own business, both as sole traders but want to set up a VAT reg & Ltd company to go for bigger contracts. At the same time we will be keeping our own businesses running in order to pay us wages and create capital for the new Ltd company. My question is really, what are the legal proceedures I would have to go through to set up this Ltd VAT reg company? and how much does it cost?

The legal procedures are quite straightforward and if you use an agency like www.ukplc.co.uk the whole registration process is simple once once you have established the limited company and got a bank account in the new companies name you can then go ahead with registration for VAT. Lime One Ltd www.limeone.com 0870 240 4325
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LawHound Limited www.lawhound.co.uk
01244 300413