L
lmwilliams
- Original Poster
- #1
Can anyone clarifiy if i need to tell the HMRC any of this as im a bit confused by their help pages and i suspect im making this far more complicated then its worth but i like to check anyway.
I am currently registered as self employed under my own name as a very low profile artist- its more of a technical thing as i dont have much business from it but i declare im doing it anyway, as im supposed to. I have no business account as my accounts are very simple so i use my personal account and all trading occurs under my name. I have no other form of income as im a mum and supported by my husband, so the bank account is VERY basic.
I have recently set up a small website/'business' offering a seperate product away from my art (but which is related to my current profession so im comfortable linking the two) but i promote it under a different name (i.e. the website address/branding are not under the same name as my art but i clearly state that i am running it and all transactions will be through my name etc. I just wanted a different website, name and look for it all). All financial trades as a result of this website are done via paypal under my own name/account and the same paypal and bank account i use for my art. So essentially it is still all one and the same.
Do i need to tell the HMRC that im using a different 'name' to advertise myself when im trading under my own name still or is it ok to leave it as it is? I just wondered if i need to declare this new area of my self employment? I remember on the form i could register a business name if i wanted so i wondered if that was important for tracking purposes or something? I havent yet been trading long enough to complete a self assessment so i dont know what info i will need to enter and i just wanted to check i had everything in order and i was doing it all right and above board.
If business picks up from this website i respect it will make sense to set up a business account to keep track of money easier but do i only need to tell them then, when i financially start seperating income/outgoings into seperate accounts so they are aware of the seperate sources? Im assuming that because its just a different website, its perfectly fine, and as long as im declaring to customers that they are trading with ME and then im declaring everything to the tax people its all fine?
Thanks for your thoughts.
I am currently registered as self employed under my own name as a very low profile artist- its more of a technical thing as i dont have much business from it but i declare im doing it anyway, as im supposed to. I have no business account as my accounts are very simple so i use my personal account and all trading occurs under my name. I have no other form of income as im a mum and supported by my husband, so the bank account is VERY basic.
I have recently set up a small website/'business' offering a seperate product away from my art (but which is related to my current profession so im comfortable linking the two) but i promote it under a different name (i.e. the website address/branding are not under the same name as my art but i clearly state that i am running it and all transactions will be through my name etc. I just wanted a different website, name and look for it all). All financial trades as a result of this website are done via paypal under my own name/account and the same paypal and bank account i use for my art. So essentially it is still all one and the same.
Do i need to tell the HMRC that im using a different 'name' to advertise myself when im trading under my own name still or is it ok to leave it as it is? I just wondered if i need to declare this new area of my self employment? I remember on the form i could register a business name if i wanted so i wondered if that was important for tracking purposes or something? I havent yet been trading long enough to complete a self assessment so i dont know what info i will need to enter and i just wanted to check i had everything in order and i was doing it all right and above board.
If business picks up from this website i respect it will make sense to set up a business account to keep track of money easier but do i only need to tell them then, when i financially start seperating income/outgoings into seperate accounts so they are aware of the seperate sources? Im assuming that because its just a different website, its perfectly fine, and as long as im declaring to customers that they are trading with ME and then im declaring everything to the tax people its all fine?
Thanks for your thoughts.
Last edited by a moderator:
