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Category: Tax
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Hi there, I am trying to complete my accounts for 2013/14

Resolved Question:

Hi there,
I am trying to complete my accounts for 2013/14 for the end of January 2015. I had an online fashion business, which is now not trading and a social media consultancy business. I have only just registered this business and do not have a unique tax number yet.
Can I put both of these businesses together under a sole traders and do it as one accounts for self assessment?
Thanks,
Sarah
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi Sarah
Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.
You will need to show there are two sets of accounts (one for each business so advise there are two self employments to report) but assuming both of these would sole trader ships then your tax affairs will fall under the same unique taxpayer reference anyway.
So one self assessment tax return but within it 2 x self employment details of income and expenses
Thanks
Sam
Customer: replied 2 years ago.

Thanks for your answer.

If some of these taxes were for 12 - 13, which am just realising - what is the penalty for paying them for this Jan?

Thanks,

Sarah

Expert:  Sam replied 2 years ago.
Hi Sarah
Although this is a new question (not asked within the first posting) this really should be listed as a new question, but I shall answer on this occasion
There will be £100 penalty and interest added (3%)
It would be appreciated if you would rate/accept the answer, as this ensures I am credited or the time provided, by Just Answer.
Thanks
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13704
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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