Self Assessment with more than one business

weezypops · 16 January 2019 at 1:22PM

Hi, I've been self-employed for about ten years so have done lots of tax returns, but am a little uncertain this year and wondered if anyone could help.

I am a sole trader, so in previous years I just did a return for the one business. However, for the last 18 months I've also been running a separate, totally distinct business AND have been doing some unrelated freelance work.

I was about to list all three on the return, but then wondered if I had to as technically I am the business, due to being a sole trader, if that makes sense. Do I just list myself, or do I do all three? And if all three, how do I word the freelance work as it's not really a business as such?

Thanks for any help?

Pennywise · 16 January 2019 at 2:08PM

If it is "just you", then you can put it all on the same s/e section of the tax return. Would be a lot easier that way as you wouldn't have to apportion your "joint" costs between each separate business. Just change the business nature description to include everything and if there's not enough space, put more detail in the "additional information" free text box on the S/e page.

weezypops · 16 January 2019 at 2:12PM

Pennywise wrote: »

If it is "just you", then you can put it all on the same s/e section of the tax return. Would be a lot easier that way as you wouldn't have to apportion your "joint" costs between each separate business. Just change the business nature description to include everything and if there's not enough space, put more detail in the "additional information" free text box on the S/e page.

Brilliant, that's exactly what I hoped someone would say! Thanks!

Self Assessment with more than one business

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