Selfemployed x2 ?

Doh

Hi all

i'm currently employed(PAYE) and self employed on a side business - lets call it businessA - i obviously complete SA.

when i orginally setup businessA it was simple hobby website that i earn revenue from advertising. my business has grown and changed and i've done some other IT work (websites,hosting,PC repairs etc). I've always invoiced as businessA - now i would like to start using another name lets say businessB for my other activities and just use businessA income specific to that website. This would allow me to invoice as businessB which would be a more relevant name to my customers.

can anyone see an issue with this? would i need to inform HMRC i'm doing this or can i just sort it out when i do my SA at the end of the year - i don't think there are any additonal tax/NA implications are there? - i assume i wouldn't have to pay NA on businessB as well?

thanks in advance

InsideInsurance

As a sole trader there is legally only you so if you want multiple trading names you are allowed to do so.

Remember when invoicing you must state on the invoice, the footer is fine, that it is Your Name T/A Business A (or B as appropriate). Likewise on your website if you sell on the site or any other official documents.

antrobus

The only thing is that if they are two entirely separate and different businesses you might need to complete two sets of the self-employment pages for your SA100 self assessment tax return - one for Doh t/a Business A, and one for Doh t/a Business B - but that's no big deal, and they'll both be lumped together for the purposes of calculating IT and NIC.

chrismac1

The other thing to watch - especially as business grows - is that you do not stand accused of artifically separating the two businesses to avoid VAT registration. With 20% VAT this is a very topical issue, there have been a few cases recently and I've been working with a few clients to ensure we don't fall foul of this. If the combined takings are likely to exceed £73k PM me and I'll send you some information on this.

Doh

thanks for the responces all i don't have to worry about the VAT turnover is less than £25k combined

this might be a daft question but what does T/A mean?

BoGoF

Doh wrote: »

thanks for the responces all i don't have to worry about the VAT turnover is less than £25k combined

this might be a daft question but what does T/A mean?

Trading As

Doh

thanks!

so just for clarification i don't need to inform the tax office about this? i'll just fill in 2 different sections on my SA when it comes to it

antrobus

Doh wrote: »

thanks!

so just for clarification i don't need to inform the tax office about this? i'll just fill in 2 different sections on my SA when it comes to it

That's right. You only need to register as self-employed once.