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,I am planning to open a food business and I am

Customer Question

Hello, I am planning to open a food business and I am looking for the right business structure to start in the right way from the beggining.

I will start with one retail business and eventually I will love to have one in every city within the uk. From what I have researched it looks that owning multiple ltd companies is better then owning just a one big.

Let say I will open the ABC LONDON Ltd company and I will start trading. If the company do well, I will expand my business to another city and open ABC BRISTOL Ltd and so on..

Is that a good business planning for the purpose of my planned business growth?

Is that true that, by using this model I will get following benefits:

1. Less tax on companies earnings, because they will be taxed as separate entities with lower tax brackets.

2. Less vulnerable for potential lawsuits (because this will be a raw food products)

Because I will need a main company ABC Ltd that will own a % of all smaller ltd companies, what name should I choose as my first company?

1. Start as an ABC LONDON Ltd then form ABC BRISTOL Ltd and ABC Ltd at same time and transfer ownership to ABC ltd? or

2. Start as an ABC ltd and then open ABC LONDON ltd and ABC BRISTOL Ltd at the same time?

What are the other benefits from this model?

Are there any disadvantages?

Thank you

Martin

Submitted: 1 year ago.
Category: Tax
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 1 year ago.

Hi Nicola,

Yes, I will wait and in the meantime I will update my question to make it more specific

Regards

Martin

Customer: replied 1 year ago.

Hi Nicola,

Please cancel this question and I will ask another, more specyfic one.

Thanks

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