How to go about a total change of business?

[Ian Shorrocks]

Hi all, I have been working in the construction industry for many years at a low level, self employed sole trader. I am now diversifying and training to be a health and Safety consultant/trainer.

I have been paying for my training and associated expenses through my business account. In the very near future I will have to change my business name etc in line with my new profession.

Does anyone have any advice on how to make it a smooth transfer, and identify possible pit falls.

 

[john1989]

Just have two self employments
Joe Bloggs t/a Joe Bloggs Construction
Joe Bloggs t/a Joe Bloggs Health & Safety Consultants

You will need to complete two lots of self employment pages on your tax return.

Your training costs might not be tax deductible.

 

[Ian Shorrocks]

Thanks John, but trying to leave hands on building altogether.

 

[Joel Bissitt]

As above thread, just change trading name and write to bank, HMRC, easy