Sole Trader + LTD Business

[mohow]

Hi,

Hope someone can help me.

I have been a sole trader for nearly 1 year and will also be starting a LTD business with a friend.

How would this work regarding tax, because I don't want my friend to know how much I earn as a sole trader.

Do I continue to to submit a self assessment online as normal for the sole trader bit? How does the tax bit work for the LTD part.

Any help will be most appreciated.

[mullet]

Do I continue to to submit a self assessment online as normal for the sole trader bit?

Yes.

How does the tax bit work for the LTD part.

If you take dividends or salary from the company, you include the relevant figures in your personal tax return - which is confidential between you and HMRC, so your co-director will not know details of your self employed income. The company pays corporation tax on its profits, and submits a company tax return.