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times are tough...just an idea I had...need to ask a tax advisor?

3 replies

xyz2011 · 30/10/2011 13:07

I have my own wedding planning/accesories, tiaras and website company and things are a bit tough, over the past recent couple of months I have thought about incorporating bridal hair and make up services into my business as that is a trade I did in the past, my question is would I have to run this side of my business as a seperate entity or could I umbrella this all under one roof...thx

OP posts:
mranchovy · 30/10/2011 14:13

When you say your existing business is a 'company', what exactly do you mean?

In any case, unless there is some very unusual factor you do not mention then yes you can extend the exisiting business to provide other wedding-related services - and probably much wider than that.

xyz2011 · 31/10/2011 18:12

Thx for the reply, yes it is my own company that is registered with the HMRC...I wanted to be sure as I didnt know whether it needed to be a separate business iyswim

OP posts:
Whippet · 01/11/2011 14:24

Should be fine to continue it as more related services under an 'umbrella company' (assuming you're not changing the company name?)

A couple of things to check however:

  • Does the 'type' of company you are registered as with HMRC still fit, as this may affect the tax you pay? e.g. if your were in 'retail' but are now also 'hair & beauty' then it might be different?
  • Do you need insurance (e.g. prof. indemnity etc) for the new parts of the business? (I used Simply Business, who were good)
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