i am not sure how to word this...
i have a few new bussiness venture i am busy trying to get off the ground...and need some advice.
if i already have 2 established companies...one being a proffesional/consulting service and the other a general contracting company.
how do i go about setting up the new ventures...which have nothing to do with the above companies...completelty different fields...both manufacturing...but completely different fields...both have different machines and are completely seperated in my workshop...if they take off i will be extending the workshop by another about 40 squares...so that i can move the noisy dusty machines out my main workshop.
do i register another 2 comapnies...open another 2 bank accounts?
the reason i ask is because i dont know what to do with the money if people want to deposit into a bank account.
if i one of the bussiness is a sole proprietor and vat registered...how does it affect my vat returns?
do i keep all the slips for the new ventures seperate or do i declare all the materials in the vat bussiness and get the deposits into that bank account and claim the vat?
or do i keep everything completley seperate and keep another set of books for each one of the new ventures?
so many other questions but lets leave it here for now.