Ads

Collapse

Announcement

Collapse
No announcement yet.

Please HELP! two trading names, how many times to register with HMRC?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Please HELP! two trading names, how many times to register with HMRC?

    Good afternoon all,

    Just a quickie from me, as this is the main thing holding me back from registering with HMRC.. I will be trading from two online stores, one for photography, one for bags, gifts etc. both shops have different names, but at craft fairs (if any) I will be trading under my blog name which I use as a 'base' for all my stuff.

    Do I need to register as a sole trader twice under both shop names, or can I register once under the blog name to keep it all together?

    I've really confused myself here so would appreciate any help you can offer, I'm looking to register in time for the new tax year

    Thanks!
    Last edited by loukr; 19-05-2011, 01:16 PM.
    Dearest Jackdaw

    Facebook

  • #2
    Normally you just use one...

    For me I have loads of websites and group them under one tax return..

    Now you are allowed to submit multi tax returns for different "jobs" but you don't have to..

    submitting 2 tax returns doubles the work load so unless you have good reason (talk to an accountant) then don't worry..

    Its up to you have you submit your tax return too as one or seperate "jobs"

    hope that helps
    .


    Promote your craft site today : Add Your CRAFTS
    (£5.50 a month or £50 per year)

    Fun new blog: Snowboard Stuff

    Comment


    • #3
      Yes you register the once as a sole trader.
      On my tax return it asks for my two businesses to be entered seperately then lumps them together at the end.
      The only irritating thing I found is that banks will only accept one trading name. Slightly confusing when a Little Chile customer paying by card gets a receipt saying Annie the Pedlar....but are they bovered? Not that I've noticed.

      Comment


      • #4
        I've just reread Mr Media's post. I too have several websites. They all bring in money and have different names but I look on those as spin offs of my Annie the Pedlar activities. All historical reproduction or re-enactment aimed at museums and schools. I'm happy to have them under my Annie umbrella.
        Little Chile sells modern stuff and started off with a rocky life. I wanted to keep track of how it was doing financially so keep it separate to help me.
        Hence putting them in seperately on my tax form. It saves me redoing the maths.

        Comment


        • #5
          We have 2 trading names and 2 websites.

          Our bank account is Just Soaps trading as Soap of the Earth so we can take cheques made out to either.

          Our accountant/taxman doesn't have a problem with it all being added together

          Jane
          www.just-soaps.com
          Twitter JUSTSOAPS
          FB www.facebook.com/pages/Just-Soaps/258910018463
          Natural Handmade Olive Oil Soaps and Skincare free from SLS, Parabens, and other Nasties

          Comment


          • #6
            Thanks for the responses, it's helped a million! It was really confusing me so it's cleared it all up for me!

            Thanks guys
            Dearest Jackdaw

            Facebook

            Comment


            • #7
              Just a small point... If you have multiple businesses dont forget that for VAT purposes turnover is per individual not per business. So if every business is in your name alone then turnover is the total sales of all the businesses when working out if you need to register.

              Paul

              www.sanctuarybeads.co.uk

              Comment


              • #8
                Thanks Paul. I hadn't picked up on that.
                AnieAnna

                PS. No need for me to worry as I'm nowhere near the to be or not to be VAT limit. The minute one bit of what I do starts to succeed I get clobbered by another bit - like the cost of fuel going up...grumble, grumble.

                Comment

                Working...
                X