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Posted Tue, 18 Jan 2022 19:33:21 GMT by EngineerM
My wife and I started a business partnership last year doing engineering consultancy. We now have the opportunity to do more general business consultancy with non-engineering organisations. Are we able to do this work under the same partnership by changing the purpose of the partnership to something more general like 'business consultancy services' or do we need to set up an additional partnership? When we first registered the partnership we stated the purpose as 'engineering consultancy'.
Posted Wed, 19 Jan 2022 15:27:17 GMT by HMRC Admin 2

If this is going to be a separate trade then this would be a separate partnership.

If your are classing it as the same trade then you can change the name and file as one partnership. 

Thank you.
Posted Wed, 19 Jan 2022 15:40:37 GMT by EngineerM
Thank you for your reply. Are there any guidelines as to what can classed as the same trade. All the services could be classed as 'business consultancy' so would this be satisfactory under a single partnership? Also how do I go about changing the name and purpose of the partnership? I tried to do this through my Government Gateway account for the partnership but the there were no editable fields for name and purpose. Would I therefore need to write to HMRC to do this?
Posted Thu, 20 Jan 2022 12:06:52 GMT by HMRC Admin 20
Hi EngineerM,

If all the trade provided is related to business consultancy then this would be acceptable:

BIM20051 - Meaning of trade: general: overview

You can inform us of the change on your tax return.

Thank you.

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