I have friend who runs a number of self employed businesses, tutoring, selling books and making baby items. She has asked if she can just pop them into one Self Employed form? or do they have to be separated?
I am really rusty as been out of it pretty much since I've had my babies, does someone know the answer? I thought it had to be separate and that is what I think I have found on HMRC site.
If they are genuinely seperate businesses rather than departments of a single business then you would fill out multiple SA103's, one for each self employment.
Of course, HMRC may look at the businesses as a whole to determine whether it is false seperation to reduce tax / avoid VAT registration or whether there is genuine business reasoning behind the separation of the three. (if not, they may regard them as one business).
Remember also that losses can only be carried forwards against future profits for that specific business, not the other businesses.
HTH,
Shaun.
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Shaun
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