corbypete started this topic @ 13:36 on 23/11/2004
If I was to say register for a company called CorbyPete Retail, then set up a store that sells toilets, can i then set up a new site selling fish tanks and put it through the same business account, and not re-register with the inland revenue?
Its not technically a new company, its still retail, but on a different website with a different name but part of 'CorbyPete Retail'
Thinking of it another way, if I sold toilets and fish tanks ont he same site there would be no quarrel.
Thanks in advance
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RE: sole trader... but with multiple websites selling different things?
waparesult | 23/11/2004 03:39 PM
Corby Pete,
Yes you can, I currently run a company called Quack Quack Consultants, I run 2 websites called www.footieshop.co.uk and www.tones.ph I have bank accounts setup for each.
Quack quack Consultants main business is IT consultancy, so the company is registered as a consultancy and retail service with companies house.
Cheers
Martin
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Martin Hunt
RE: RE: sole trader... but with multiple websites selling different things?
James Smith | 23/11/2004 04:57 PM
You can run more than one trade through a limited company and run multiple sole trades.
The precise nature of that trade will determine if it is desirable to run separate bank accounts for each activity and will need to report these as two separate businesses or not. Generally speaking if these a large divergence in activities, ie you had a hair dressing business and sold things on the internet you would need to keep things separate. Given this is all retail you don’t have too much of a problem. You accountant will be able to advise when you complete your tax return.
One thing I will say is that you are possibly confusing being a sole trader (ie registering with the Inland Revenue and the title of your post) and being a limited company (registering a business name) which are quite different things.
The main section of this site goes through these difference quite well.
Regards,
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773
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RE: RE: sole trader... but with multiple websites selling different things?
corbypete | 14/02/2005 11:18 PM
Originally posted by: waparesult
Corby Pete,
Yes you can, I currently run a company called Quack Quack Consultants, I run 2 websites called www.footieshop.co.uk and www.tones.ph I have bank accounts setup for each.
Quack quack Consultants main business is IT consultancy, so the company is registered as a consultancy and retail service with companies house.
Cheers
Martin
hows the footie shop? is it bringing in cash worth the time an effort of running it?
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