Hi,
We currently have a successful small business, with some cash in the bank. Its a ltd company.
We are planning to use that cash (plus a small amount from directors) to set up a new company, in broadly the same field. So not an entirely different type of business.
Same directors for the current company and the new company.
Im thinking a subsidiary is possibly the way to go, in order to transfer that money across with the least hassle.
Am I correct?
If I did go subsidiary, with it still being a small group, would it lose audit exemption?
If we didnt go subsidiary, I think a separate LTD company will mean we cant move the cash from our current business as easily or without paying something on it.
Many thanks for any replies and advice.
We currently have a successful small business, with some cash in the bank. Its a ltd company.
We are planning to use that cash (plus a small amount from directors) to set up a new company, in broadly the same field. So not an entirely different type of business.
Same directors for the current company and the new company.
Im thinking a subsidiary is possibly the way to go, in order to transfer that money across with the least hassle.
Am I correct?
If I did go subsidiary, with it still being a small group, would it lose audit exemption?
If we didnt go subsidiary, I think a separate LTD company will mean we cant move the cash from our current business as easily or without paying something on it.
Many thanks for any replies and advice.