How to form an umbrella company?

West said:
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DONE.
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dpbadger said:
I would get quotes for manufacturing from china first but don't get those rubbish ones that turn inside out when it is too windy. Start small sell them outside tourist attractions from a barrow (non english tourists nearly never have a brolly when on holiday). Sell them at a £5 a pop then when you have a bit of capital. Hire some staff with other barrows.

Don't step on any toes though someone might already have that pitch and it might kick off. The peanut sellers have a side trade with their mates selling brolly's and they dodgy. I am sure the peanuts are bird feed ones covered in sugar and sold, I would never buy any from them.
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Post of the year mate! Congratulations, I laughed so hard. :D:D:D:D
 
I feel weird in this thread posting helpful advice...

Do you have an accountant op? You may want one or at least talk to one before doing this as I don't know the ins and outs of your business.
 
Find a dodgy lawyer who embezzle the money for you.

You should set up a charity that is what all the rich people do. Then donate to your own charity and spend it at your other business.

Just a joke, i accept no liability for your actions.
 
Pudney said:
I feel weird in this thread posting helpful advice...

Do you have an accountant op? You may want one or at least talk to one before doing this as I don't know the ins and outs of your business.
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No, I try and save money not using one (so I can pay more profits to people on the dole you see ;))
 
Give it all to me and I will deduct less then what the taxman will take as my fee then I will 'donate' it into the company you want because I am generous like that :cool:
 
86JR said:
Hello,

I need a new limited company forming, but I need to be able to transfer cash from my current business account to the new one without paying tax on it, is this possible?

I have a few options it seems, but no idea what to do and don't really want to pay for advice as that could be a waste of time if the information is out there for free.

I currently own one limited company that deals with ecommerce and physical products, which is tied to a business bank account.

I am starting another venture and am unsure if I should just form another LTD and get another business bank account, or transform my current company into an umbrella company, and then this means I can move money from that bank account into the new one without paying tax on it, would I need to register 2 new companies in this case or can an umbrella trade as it's own entity?

The other option I have is to use a new name as a trading name under my current company, and use the same bank account.... do I have to register this as a company or can I just use any old name, what stops someone from registering the name as a company and then stopping me from using it? Also using the same account could make accounting tricky especially as the income comes from the same company!

What is the best option? Thanks.
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You really need to speak to an accountant: go to him and say 'here I am today, this is what I want to achieve' and they'll tell you how to get there.

There are various ways you could directly capitalise CompanyB from CompanyA 'without paying tax' but with very different ramifications. The simplest that comes to mind is to make a loan (but that would need to be repaid), depending on what company structure you want to end up with you could also do it through to equity capitalisation (CompanyA purchasing some shares in CompanyB).
 
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1. Avoid all Accounts, Tax Specialists
2. Avoid all accountancy, tax speciality, legal fora
3. Post poorly framed question on geek forum.

4. Problem solved.


You're the awesome, OP.
 
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