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Posted Tue, 11 Jan 2022 13:33:39 GMT by Steve Walters
At the end of my accounting period this year - 31st March 2022 - I will be changing my business from being a Sole Trader to a Partnership. Is there an easy way to do this, or do I need to tell HMRC that the ST has ceased trading, and that the Partnership is a new business? Would my UTR etc remain the same in terms of paying for my tax and National Insurance? The actual business itself is unchanged other than a partner joining the business.
Posted Wed, 12 Jan 2022 13:57:31 GMT by HMRC Admin 17

Hi,
 
You will need to enter the cessation date on the relevant return for the sole trade and then set up the partnership by completing the forms SA400
and SA401 as appropriate.

See links:

Set up a business partnership   and :

Stop being self-employed  .

Thank you.

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