Sole Traders

[Daffs]

Does anyone know what the legalities are for a scenario like this..

I sell books and have an online bookshop. I'm registered as a sole trader. I want to open a secondary service business like admin under a different name, etc.

Do I need to contact Inland Revenue and tell then even if I can keep all the accounts in order and put everything through under the one set of admin? Would I have to register again, or become limited and be able to 'trade as' the other name. Anyone know?

Thanks :happy72:

[Macaroni]

Hi daffs

I asked DH and he said

You can run as many businesses as you like as a sole trader and you just do the one return

HTH

[Daffs]

Excellent, thank you very much :D :)

[Macaroni]

No prob, DH is a source of useless, oops, sorry, I think I meant useFUL information:hysterica :hysterica

[judithbl]

Hi

I went on an Inland revenue workshop and from what I recall you can run as many business but just do one return. Think you have to telol them though - why not just give them a ring.

Judith

[jimblies]

Yep - I've always found them really helpful when ringing.

[Daffs]

Thank you for your help and advice - I will give them a ring to know for sure :)

[Dino]

When you complete your tax return, you list your income from all businesses separately.

I had more than one self employment income last year. Best phone and just check but I believe your return as a sole trader is under your own name rather than your business name.

Karen

[Daffs]

That makes sense, thanks Karen :)

[littlesheep]

I just do one and put everything through together - not sure if it is right or not :)

Love Elaine

[littlesheep]

p.s. my businesses are linked tho as broadly based they can all fall under the same umbrella name anyway