Starting a second business

[turbochrissy]

I have recently started a second business, completely seperate to my first. I have been self employed for the past 6 years so obviously I am already registered with HMRC for self assesment. Do I need to register the second business and complete seperate tax returns?

 

[Anna Chandley]

No need to register the second business. You just need to complete a second self employment page in your tax return.

I don't know if you are VAT registered or anywhere near the registration limit but remember that as a sole trader the combined turnover for both businesses counts as one for VAT purposes.