Hello All,
My main question is, can two sole traders submit separate tax returns and avoid registering as a partnership if we keep clients and income/costs separate and only share a website to promote ourselves?
If so, how is best two do this?
BACKGROUND
I've set up a brand/website for my self-employed business (marketing and design consultancy), which I have been doing for over 4 years. My brother wants to get into the same industry, so I've offered that we can use my brand/website/ social media accounts to promote our work in a shared portfolio and propose that we describe ourselves as a marketing duo.
We will not have a joint bank account, payments will be made into our separate sole trader accounts
We will take on the projects individually and as such invoice the clients separately. Contracts will be between each sole trader and client too.
I currently pay all the mutual costs, including website hosting, design packages, domain names etc. Would I be able to invoice my brother on a monthly basis to cover these costs? I assume then all other business costs as in travel etc would be down to us separately and each of our responsibility to include in our individual tax returns.
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