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Posted Thu, 22 Sep 2022 19:43:40 GMT by Yee
Hi My husband and I will run a partnership business. Is it ok if our clients pay for our service to my husband's personal account but we actually run the business, share the profit and pay tax as a partnership between my husband and I?
Posted Mon, 26 Sep 2022 15:27:50 GMT by HMRC Admin 19

HMRC have no objections to this but you may wish to confirm agreement with your bank.

Thank you.
Posted Wed, 28 Sep 2022 20:07:58 GMT by Yee
Can I further ask if my husband also provides services under some other trade names, for example another company that only he runs the business and he also provide freelance services under his personal name, does he need to register for two sole trader accounts (one for the company and one for his freelance serviced) for filing tax? Or he can add all income which he has earned by himself under one sole trader account for tax purpose?
Posted Fri, 30 Sep 2022 08:36:59 GMT by HMRC Admin 2

It depends if they are all the same 'trade' or not.

You can find further guidance here:

HS220 More than one trade, profession, vocation (2022)

Thank you.

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