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Self employed, do I have to tell them if I change style of business?

(2 Posts)
nojustificationneeded Mon 18-Jul-11 19:09:59

Message withdrawn at poster's request.

mranchovy Tue 19-Jul-11 21:06:14

Yes.

They may tell you to account for them separately, cease the old business and start a new one which may be complicated particularly if you are not preparing accounts to 30 March/5 April or if there has been any capital expenditure in the 'old' business - if you have claimed Annual Investment Allowance for anything significant you should see an accountant to minimise any tax liability.

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