Partnership - do we change name or start whole new company?

THAAWT

If a partnership decided to go from a small business run from home selling confectionary online to wanting to open a catering trailer selling confectionary and other food. 
Do we change the business name and continue or do we need to close the first one and then start a whole new partnership (would that mean registering as self employed etc again)?

Any advice much appreciated 

pramsay13

Just continue would be my advice. 
Why do you need to change the name if it is selling the same kind of things?
I assume you are currently partnership trading as online sales so just change it to partnership trading as new catering trailer.

THAAWT

pramsay13 said:

Just continue would be my advice. 
Why do you need to change the name if it is selling the same kind of things?
I assume you are currently partnership trading as online sales so just change it to partnership trading as new catering trailer.

Thank you, change it as in when we do our next tax returns or contact them specifically to change it please?
Also need to change the name as it just wouldn't be right on a catering trailer.  Is this an easy process do you know?

DullGreyGuy

Are you VAT registered? 

gwynlas

You could call your trailer anything you like as  long as you make it clear that you are xyz treading as abc,

THAAWT

DullGreyGuy said:

Are you VAT registered? 

no we're not, just a very small partnership

THAAWT

gwynlas said:

You could call your trailer anything you like as  long as you make it clear that you are xyz treading as abc,

Oh really, thank you i had no idea.  Can i just ask who i need to make it clear to? as in on a sign on the trailer or hmrc?

DullGreyGuy

Haven't operated a partnership in the digital age but assume if you log into https://www.tax.service.gov.uk/business-account/manage-account using your partnerships Gateway ID then you should be able to advise of a name change there if you want. 

Consumers have a right to know the legal entity they are transacting with, who are storing their data etc. For a traditional partnership there is no separate legal entity and so for any official paperwork (eg invoices, letters etc) you need to identify the partners... so for the van if would be Bob Smith, John Doe and Tracy Clark t/a The Tuck Truck whereas your other operations would be Bob Smith, John Doe and Tracy Clark t/a The Sweetie Shop https://www.gov.uk/set-up-business-partnership/naming-your-partnership

In practice, many won't even be asking for a receipt from a food van etc.