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  • RE: Sole Trader - Expenses owed to the owner

    Hello, please can I jump on this to ask a related question: I am currently in my first year of a partnership and our turnover will not be very high, so our expenses will probably leave us with very little profit. We are accounting on a cash basis. Can we carry over our expenses to next tax year? ie. Does the seven year rule only apply in your first year of trading or can you claim expenses at any point within the seven years, regardless of when you started trading?
  • Personal UTR different to Business UTR

    Hello, I registered online about 10 days ago as a self-employed partnership business (not a ltd company). In the 'forms' section of my account, the status of this form is 'completed' but in the business account section, my UTR is the same as my personal UTR. Is this right or should I wait for a new business UTR to arrive? I need to register my partner into the partnership but don't want to do this with my personal UTR. Thanks