sole trade and landlord
Question asked by catherine 3 days ago
I am a sole trader and a property landlord. How do i separate these 2 sets of income and expenses?
Hi both,
@Catheine, in this case, you will require a separate account; one Sole Trader account and one Landlord account.
Please see HMRC guidance - "UK properties are treated as one 'UK property business'".
@Dawn, I can see you have correctly opened a Property account.
Tommy
Best answer
Hi Catherine, I’m in the same boat as you here. What I did was register as a sole trader first, then you can [Add Business] as a property business after you login to the sole trader account. The problem I have is that it refers to the property account as a Business, but I’m just an individual tax payer not an actual business and am unsure how this information will be reported to HMRC
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