Change name as sole trader

sgt_bilko_2

I've been a photographer, working as a sole trader for years under my own name, but recently started doing more web design, which is becoming the primary focus.

I feel I should change the name with HMRC to reflect this and also present a more appropriate look on invoices etc. A couple weeks ago I contacted them to ask whether I should do this on the 5th or 6th of April to avoid having to prepare two tax returns next year and they rather vaguely said it was up to me.

Is there a right date to do this, so it's as simple as possible? Today or tomorrow?

engineer_amy

As you are a sole trader, you can trade under whatever name you wish (obviously not trying to pass yourself off as another company to take their business), as you, sgt bilko, are the taxable entity.


It is entirely up to you if you wish to keep the two businesses separate - keep records for income and expenditure for the photography side, and the same for Bilko Web Design services, or however you want to call the web side.


You wont have to do 2 separate tax returns as it is your personal income. On your normal self assessment tax return, you will tick the box for self employed, and then you can list the income and expenditure from business 1 and business 2 separately.


If you have already received any income from web design services before today, that would need to be declared on your next tax return anyway, so its nearly irrelevant when you start calling yourself something different.

sgt_bilko_2

Thank you for your answer and the clarification. I'm still doing a bit of photography, but it all seems to be linked to my web design jobs.

Overall I want to keep things as simple as possible, which means one set of accounts, so I contacted HMRC not long ago, who have listed me as a photographer & web designer under the new trading name.

Any invoices sent out from tomorrow will be under the new trading name, however the tax return up to 5th of April this year will be for the old name. They have updated it all and made notes, so they must be OK with it that way.

EDIT: Bilko Web Design would have been a brilliant name!