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The Book-keepers Forum -> VAT, Payroll & Tax -> Self Assessment
Post Info TOPIC: Self Assessment
Silly Digits


Senior Member

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Self Assessment
 

I have just been given some paperwork to fill in a self assessment return.  Registered as sole trader.  My client has two completly different trades.  Can these go under one self employment page on the tax return or should this be separated?   



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Don Tax


Guru

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Posts: 1303
Date:
 

Not aware of any hard and fast rules on this but I'd be inclined to separate them unless one is particularly small.
Regards, Tim

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BudgetB


Guru

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I normally put them on separate pages.

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Truemanbrown


Senior Member

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Date:
 

I would keep the two trades separate for the simple reason that one of the trades may make a loss. You would lose the flexibility in obtaining relief for that loss if the results for both trades are joined together.



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Dangermouse


Veteran Member

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As someone who runs several sole trading businesses, HMRC say you can do either, but be consistent. Check what was done before, and if it's a new situation, I'd ask the client what they prefer. There is no point doing the extra work if the client doesn't need it (or the client paying for it!).

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