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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5143
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Hi I am a self employed healthcare professional last April

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Hi I am a self employed healthcare professional last April I sold my sole trader business and then continued as a self employed contractor to the business. Do I have to have cessation accounts? and start up again
Hello and welcome to the site. Thank you for your question.

These was a cessation of business when you sold it to another party. So you should be filing a tax return to cover accounts to cessation.

The fact that you have now become a contractor to the business as self employed means there is commencement of self employed business - yes there is a start-up of new business. You should file the accounts as self employed contractor.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 4 years ago.

Clarification- Iwas a self employed dentist - I am now a self empolyed dentist so the only difference is that I m paying the new business for the use of the surgery rather than paying for it myself

Mark, thank you for your reply and clarification.

If you sold the dental practice for a sum, then there would have been some gain/loss on sale of it.

In my considered view, there is a cessation and a start-up. The profession/nature of business may be the same.. previously you were a owner and occupied your surgery and now you are self employed contractor to the new owner of surgery.

I hope this is helpful. and other Tax Specialists are ready to help you