merging 2 ltd's in to one....any benefit?


M

Mick Miller

I have 2 very small companies doing diffrent thing's ...........for
ease whats the best way to deal with them, i wul;d like to use the
profits from one service to grow other ideas.

is there benefits for me just running 1 ltd...instead of 2

if so how easy is it to merge them ie companies house vat ...tax ect
 
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T

Troy Steadman

I have 2 very small companies doing diffrent thing's ...........for
ease whats the best way to deal with them, i wul;d like to use the
profits from one service to grow other ideas.

is there benefits for me just running 1 ltd...instead of 2

if so how easy is it to merge them ie companies house vat ...tax ect
Don't think of it as "merging" two companies, you have two businesses
and if they are doing "different things" they will remain two
businesses whether or not they are under the umbrella of the same
company.

As Peter has suggested in the other thread, without any information
about which "different things" the two companies are doing, when they
were incorporated, have they filed accounts yet, and so on, it will be
impossible for anyone to give you sensible advice.

In the mean time stick with things as they are. If you want to draw
dividends from the profitable company to "grow other ideas" where's the
problem with that?



--
 
J

Jonathan Bryce

Troy said:
In the mean time stick with things as they are. If you want to draw
dividends from the profitable company to "grow other ideas" where's the
problem with that?
The tax bill ?
 
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T

Troy Steadman

The tax bill ?
Especially with IR35 kicking in. I gave Mick this advice on 9th Jan and
I'm not convinced a DIY merger is going to make things easier:
hope this gives a better picture
It gives a yet more complicated picture. You need to sit down with a
good Chartered Accountant who will reassemble this jigsaw of dateless
trading into a tax-efficient version of what was *really* happening, you
can't do this yourself.




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