We are considering starting a company from scratch. We plan to engage in buying to sell, buying to rent, flipping, and possibly property management agency. Could you provide us with any tips? Additionally, is there a minimum amount of money required to establish this structure? Thank you, amazing work!
@evka24
7 ай бұрын
Thank you
@jackbird6325
9 ай бұрын
Thanks for this. Im a sole trader in the building trade and in the process of setting up a ecommerce business on the side. I want this to be a limited company under a group structure as i may decide to do property investment through a seperate company in the future. Would it be ok to run my ecommerce gig through my current sole trader status then easily convert this to limited down the line if it is successful, declaring my holding company as the shareholder? I am thinking of setting up the holding now just in case but not putting any money through it.
@Midwinter-x5j
7 ай бұрын
How do you transfer funds through the group structure?
@meducas4619
11 ай бұрын
As you say setup is straightforward initially, however opening business bank accounts (and possibly applying for finance) for companies which are part of a group structure is long-winded and not as quick and straightforward as for standalone companies - seems to trigger all sorts or additional time consuming checks by banks. My question however, can accountants produce one set of "consolidated accounts" for a group structure rather than separate company accounts, and is this cheaper? Thanks!
@BrumCraft
11 ай бұрын
Your accountancy fees will increase but not significantly as the holding co will usually have minimal transactions. I did a share for share recently and Santander/Starling wouldnt support a group, so went to Barclays instead
@JoshuaTharby
11 ай бұрын
Each company will have to produce their own set of accounts, a group company can prepare consolidated accounts but usually they are not required and would be more expensive than normal accounts.
@GASHPAN
11 ай бұрын
Does each company also need their own separate biz bank accounts, ie. the holding company still requires its own bank a/c?
@JoshuaTharby
11 ай бұрын
Yes they are all separate entities so need own accounts, tax returns and banking
@Z1234568910
11 ай бұрын
If i have a trading company that was dormant since inception. And then set up the holding Co. Would it possible to set up as a group without the extra clearances / tax help etc?
@JoshuaTharby
11 ай бұрын
As long as the company is worthless it's straightforward.
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