MTD for Income Tax - Multiple Income Streams

Question asked by Karen Cain 3 days ago

I have a client that has two sole trader businesses so do I need two separate accounts to report on?

Also if a client is a sole trader and has property income can that be under one account or again will it need separate accounts?

Sorry to ask have looked through the questions etc and couldn't see this information?

1 Reply

Tommy Chung

Staff

1885 entries

Hi Karen,

Yes, the client will need set up 2 separate sole trader accounts if he has 2 separate sole trader businesses.

And yes, the client must set up a sole trader business and a property business as HMRC require separate submissions for each income source.

Tommy

3 days ago

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