I would like to know what are the legal and tax requirements for a company that ads another activity to its portfolio. This is a very small company who is not reg for VAT.
New branch of the biz will organise social events and travelling events.
I have set up a different bank account for this activity.
Would it be any other requirements like licenses, insurances, or any other law and accounts points to consider ?
Thank you very much for your help.
Kind regards,
Adrian
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This is just my personal opinion. Advice should be sought from a suitably qualified Accountant.
P.S. I only ride a motorbike because I want to dry my clothes faster
Gosh thats an old post youve dug up there Richard - could you not sleep yesterday? lol
I dont even remember seeing this post! Sorry Adrian.
My question would be - if you are running two trading arms from the same Limited company, why have two Bank accounts. Or are they sole trader activities?
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position