pat king started this topic @ 11:56 on 21/03/2007
As a Sole Trader,
1) would I be able to trade under a trading name?
2) what tax forms would I have to fill in?
3) are the tax forms available online to look at?
Thanks in advance
RE: Sole Trader
Use Your Imagination | 21/03/2007 02:55 PM
Hi Pat
1) yes you can use a trading name. But, on some legal documents ie invoices, receipts etc you will need to declare your legal name which will be P King t/a (your trading name)
More details can be found on the trading standards website www.tradingstandards.gov.uk look in the business guidance section for a leaflet on the Business Names Act. Alternatively this site (Startups)has all the info in the 'free advice' section on the homepage.
2&3) you would need to keep records of purchases and sales and declare any profit on a self assessment tax form each year. You need to register within a couple of weeks of being self employed with the tax office. Here's is link to HM revenue and taxes website
www.hmrc.gov.uk/selfemployed
Rachel
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Rachel
www.useyourimagination.co.uk
RE: Sole Trader
pat king | 22/03/2007 04:25 PM
Rachel
Many Thanks.
