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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4965
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We are selling our current business and are lucky enough to

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We are selling our current business and are lucky enough to own a small estate (40 acres) and plan to convert a barn into holiday lets and an office. We have various plans/options for other small income streams including livery, smallholding produce, etc... We also let some of the land via a grazing licence and will have a new management consultancy business. Earnings should break the current vat threshold.
Our accountant has advised setting up a Ltd Co to incorporate all of the above and registering for vat. Is this the right course of action?
Hello, I'm Keith and happy to help you with your question.

Well, I am both a Chartered Certified Accountant and a Chartered Secretary. I concur with your accountant's advice. It is exactly what I would have suggested had I been consulted.

There are many safeguards, not the least putting what is called the veil of incorporation between the company and you personally. It makes you one step removed should something unexpected and disastrous happen.

Setting up a company is dead easy, there are on line organisations who will do it for you at the click of a mouse and relatively economically into the bargain.
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