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Sole traders query

MissQ
Posts: 1
Joined: Mon Aug 07, 2017 8:18 pm

Sole traders query

Postby MissQ » Mon Aug 07, 2017 8:28 pm

Myself and another person have taken on a lease for a premises. We are both seperate traders within the the same industry (Beauty). We provide different services and are qualified in different areas. We would like to trade as sole traders withing one shop. In other words be responsible for our own cashflow/income/outgoings. Is this possible and if so how do you go about registering as sole traders within the one shop, registering the shop name and explaining this to HMRC? TIA

pawncob
Posts: 3912
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Sole traders query

Postby pawncob » Tue Aug 08, 2017 10:39 am

Just register as individual businesses in the normal way.

https://www.gov.uk/topic/personal-tax/self-assessment
With a pinch of salt take what I say, but don't exceed your RDA


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