Change the name of Sole Trader

[aszu77]

Hi Everyone,

I used to have an online shop and sell lingerie. Now I have moved into electronic media and almost all my income comes from advertising. I'd like to change the name (Sole Tradership ) to reflect what I'm doing now. What do I need to do? Is it just a matter of changing the details at www gov uk or do I need to do something more?

Thanks for help

 

[Rako92]

Hi. As far as I know, HMRC are interested only in you paying your tax. As a sole trader you can use whatever (well, nearly) name you want as long as you still give your name in front, for example John Smith t/a ABC can change to John Smith t/a CBA and it will not be a problem for you. I think you do not need to change anything. Hope this helps.

 

[myfairworld]

I'm a Sole Trader and changed my business name a few months ago, I hadn't really changed what I do but I'd decided that my 'old' trading name was a bit of a mouthful something a bit snappier would make it easier to promote the business.

It isn't difficult, but it is time consuming if you are a retailer like me, you need to get all your suppliers to change to using the new name plus your bank etc. Suppliers were all fine about it saying yes we'll alter our records, like the new name, etc. Only problem I had was with the bank who insisted I went through a full application process as if I was opening a new account, though when all the fuss was over I was using the same account with the same Sort Code and Account Code and just with the 'Trading as' bit changed.

The other problem I've come up against is that I keep thinking I've told absolutely everybody about my change of trading name only to discover I've forgotten about some agency or other.

N.B. The electricity company was also 'difficult' in the sense of ending my existing contract, charging me for electricity to that point and opening a new account. But these are maybe the troubles of people with business premises.

 

[aszu77]

Thanks for the info. What did you do with HMRC?Have you let them know or have you just cracked on as before?

 

[myfairworld]

My accountant said he would deal with that and I must check that he has actually done so. So I suppose that means you do have to inform them.

 

[TODonnell]

Trading names aren't registered anywhere. They're like a nom de guerre.

So as MyFairWorld said, you just tell your business associates.

As far as HMRC are concerned, aren't you a sole trader, so they know you as 'John Smith' and nothing else?