Starting another business

[Anonymous]

Hello,

I am hoping you will be able to give me some advice.
My primary business activity is PR, however I want to branch into the jewellery business trading online. Do I have to tell the Inland Revenue that I am going to be doing this as it will not be associated with Shakuna PR?

Any advice will be greatly appreciated.
Lou

 

[Eagle]

Hi Lou

Any form of income, personal or business, must be reported to the IR.

 

[Alpha]

Assuming that you have already told them that you are self employed you do not need to tell them that you are starting another different business.

You will however need to complete seperate self employment sections on your tax return for each business.