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Where Taxpayers and Advisers Meet
Sole traders query
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
Re: Sole traders query
Just register as individual businesses in the normal way.
https://www.gov.uk/topic/personal-tax/self-assessment
https://www.gov.uk/topic/personal-tax/self-assessment
With a pinch of salt take what I say, but don't exceed your RDA
