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Posted Fri, 09 Dec 2022 16:06:23 GMT by yli
I am registered for self-assessment with a business name. This year, I have second business trading under another name. Can I add this new business under the same UTR when I file my tax return? Do I need to notify HMRC and register my new business name before I file my tax return and and if so how do I do this. Thank you for your help.
Posted Mon, 12 Dec 2022 13:48:09 GMT by HMRC Admin 17

You can update this when you complete your tax return.

If you wish to update this now, you can contact our Self Assessment department :

Self Assessment: general enquiries   .

Thank you.
Posted Tue, 03 Jan 2023 15:12:00 GMT by yli
Hi, I have another question related to multiple sole-trader businesses under my name. I registered for self assessment trading as 'ABC' in 2020/2021. However, I had another business trading as 'XYZ' starting from 2018. Since this old business 'XYZ' was at a loss, I didn't register self assessment in 2018. Now, I'm still trying to sell off the excess inventory from 'XYZ' at a low price which would not be a profit for me. Since I'm not making profit from selling the excess inventory, can I have a confirmation that I don't need to add this old business 'XYZ' to my current self assessment?
Posted Mon, 09 Jan 2023 13:12:34 GMT by HMRC Admin 19

If you want to claim losses, you will need to show them on your Self Assessment tax return. You can only go back to the previous 4 tax years to backdate a claim for losses. Help sheet HS227 will give you some advice on losses:  

HS227 Losses (2022)

Thank you.

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