Two Sole Traders?

Discussion in 'Managing Your Business' started by Ash_, Mar 15, 2016.

Advertisement
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Welcome to the UK Window Cleaning Forums.
    Starting or own a window cleaning business? We're a network of window cleaners sharing advice, tips & experience. Rounds for sale & more. Join us today!

  1. Ash_

    Ash_ Newcomer
    Member

    Joined:
    Mar 15, 2016
    Messages:
    2
    Likes Received:
    0
    Hello All!

    New to the forum. Looking to start a small domestic window cleaning business with a good friend of mine.

    Have been doing alot of research for the past couple of weeks. There is one thing which I cannot really find an answer to, but some of you may be in this situation or may know the answer yourselves.

    Is it possible to both be registered as Sole Traders and work together but do our own Self Assessments at the end of the Financial Year, or would we have to register as a Business Partnership?

    Many thanks in advance!
     
    Advertisement
  2. mark

    mark Forum Addict
    Member

    Joined:
    Sep 26, 2014
    Messages:
    708
    Likes Received:
    180
    you could if you had two separate business names for each other(and register the fact with a decent accountant).you would have to half the work between each other.and have separate books etc.all that matters is that you are honest with the revenue.OR THEY WILL GRILL YOU
     
  3. Green Pro Clean Ltd

    Moderator

    Joined:
    Jan 20, 2015
    Messages:
    5,161
    Likes Received:
    2,154
    You are not registering as a sole trader so to speak, you register as self employed, both of you would need to do this. Then you have the complication of who actually 'owns' the round as it were? What happens in a year when you decide you don't want to carry on and your mate does but you feel entitled to half the customers?

    Best thing to do is call an accountant and book and appointment for you and your friend, all accountants do a free 30 minute consultation and can talk you through your options.
     
  4. mark

    mark Forum Addict
    Member

    Joined:
    Sep 26, 2014
    Messages:
    708
    Likes Received:
    180
    agree with mr green,also "get everything down in writing". friends and business don't mix, from my own personal experience.
     
    • Like Like x 1
    • Agree Agree x 1
    • List
  5. Ash_

    Ash_ Newcomer
    Member

    Joined:
    Mar 15, 2016
    Messages:
    2
    Likes Received:
    0
    Ok brilliant, thanks for your help guys! :)
     
Advertisement