Sole Trader + Limited Company

E

EvilPhil

Guest
So can you set up a limited company focusing on one business and continue to act as a sole trader in another business.

For example, Joe is a soletrader who provides I.T. training. He also wants to start a limited company selling widgets to the bakery industry. Can he be prevented from doing so?
 
Thanks for your reply. Two seperate VAT numbers is okay too? I know sole traders don't need one but some companies prefer you to have one.
 
Yes you need to seperate VAT numbers!

Basically the company is one entity and you as a sole trader is another entity. So be very careful when you are trading to not mix the two business up.
 
Before forming limited company make sure you definitely need one. May be expensive to wind one up again if you find you no longer need it. Be carefull what you sign when operating as a limited company. Beware of personal guarantees. Educate yourself on the responsibilities and duties of company officers.
 
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