2 hobby businesses as one?

Hi, I work part time and would like to earn extra cash as a sole trader but I have two skills to offer, one being dog training and the other being biology tuition. Does anyone know if I can offer both services under my name as a sole trader so I have just one set of accounts and one business insurance? And if I do that can I give each ‘sub-business’ a separate name, eg. ‘Jane Doe Dog Training’ and ‘Jane Doe Tuition’ whilst the official name of the company as a sole trader is just ‘Jane Doe’. Would HMRC allow that (if I manage to earn enough to bother them)?

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  • soolin
    soolin Posts: 72,133 Ambassador
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    I run more than 2 unique sole trader businesses, I trade under my own name in all cases but on different sites I use different names as well ( just like I use the name Soolin on here) but I separate out the businesses for my tax return. 

    When I do my book keeping I keep the very distinct business apart, so for instance I sell online and in person but I have two other professional self employments, so I have three sets of books. All my selling income in whatever names I use on eBay, Etsy Facebook etc are lumped together and reported as ‘sales’ , the other businesses are reported separately on my tax return with a brief title to say which is which . 

    I have always done it that way and HMRC have never told me not to, obviously though if you are looking at the £1000 trading limit then all the businesses are added together , you couldn’t have income of £900 from both businesses and get away with not reporting. 

    Sorry that’s complicated , I can’t entirely show what I mean but it is really actually very simple.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
  • Hi Soolin, do you use separate bank accounts for each entity? 
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