Forum

Registering with HMC, business name or sole trader
 

Just back from accountant and I will imminently register myself online with HMRC so that my extra income is registered for tax and all is above board.

I am stuck at the first hurdle on whether to register myself a business name, or stick to sole trader. I am really just a hobby seller, spreading my sales thinly over a handful of EB/PP stealth accounts, outside my FT job. But I thought it might be cool to have a generic 'trading as' name in case things develop.

But, I am confused if this is going to cause problems as none of my EB/PP accounts are in my own name or address (some have variations of my name, that is the closest I get). Is this an issue? So I have stuck to personal EB and premier PP accounts with no plans to upgrade to business.

I guess I would like to know more about the pros and cons of registering a business name in stealth circumstances like this. I would have thought you cannot use one business name for all the stealth account pairings otherwise they get linked, so you would then need to register a different business name for each EB/PP pairing?

Also, when submitting EB/PP invoices for the tax return, when none of the name/address details match your legit ones, does that not get red flagged by the accountant or taxman? I wanted to ask the accountant today but held back as this just all sounds a bit dodgy to a non stealther.

I just want to do this the right and sensible way. If anyone can offer a few pointers I would be most grateful :)

As a sole trader you can call your business/businesses by any name you like.

E.G. Your business would be known as J.Bloggs T/A (trading as) XYZ Builders

Thanks NoneOther

Can/should you use one business name to encompass multiple stealths?

Or, is it better to view each EB/PP stealth pairing as a separate business and give each one a different business name (assuing they are all registered on EB/PP with different stealth names/addresses)?

Everything stealth should be different including business names if used.

TBH you are best to forget the business name idea and just use the fore and surname as your business name for e/b, that includes stealth accounts.

The same would apply to HMRC.

Much less complicated for all concerned.

Just my opinion of course but others may advise differently