joint assesment and sole trader

spottybox

hi all. i registered new businnes as a sole trader. i got letter from revenue, that my businnes has been registered on my husband pps number, because he is main tax payer in our assesment. questions are:

1. will i get any other letters from revenue as a proof of registration of bussiness
2. should i go to separate my company from my husband or should it stay as it is?
3. i registered comapany name i cro. if i will buy goods for resale should i ask to get invoice on my business name or husband name or his pps number or will i get maybe something else from cro or revenue. please give some answers )

thanx !marta

Alan Shore

spottybox wrote: »

hi all. i registered new businnes as a sole trader. i got letter from revenue, that my businnes has been registered on my husband pps number, because he is main tax payer in our assesment. questions are:

1. will i get any other letters from revenue as a proof of registration of bussiness you should get a letter stating the date that you registered from for the taxes you registered for under your number if that's the number that your registered under. The return may go in under your husbands number but the business should be in your number

2. should i go to separate my company from my husband or should it stay as it is? Don't confuse a company with a sole trader, the business is a sole trader if you are conducting it yourself

3. i registered comapany name i cro. if i will buy goods for resale should i ask to get invoice on my business name or husband name or his pps number or will i get maybe something else from cro or revenue. please give some answers )
You registered a business name with the CRO, this is the name of the business you should get everything made out to the name. The CRO should have sent you a certificate of business name you will need this to open an bank account.

Good luck.

spottybox

Alan Shore wrote: »

Good luck.

hi, so i mixed up something. my business is sole trader under the name registered in cro, yes?
but why i am registered for income tax on my husband pps number? what should i do to separate my business from my husband taxes. is that possible to have still joint assesment with my husband and separate this business?could you expalin if you know.please

Eireog1

You are a sole trader who has registered a business name. You will be jointly assessed under your husbands number as he is the assessable spouse. You should have the business invoices issued with the registered number as per Revenue. On your tax return you will fill in husbands income and your adjusted profit from the business and it will be all assessed through your husbands number. This is a common practice. I recommend getting professional advice if you don't understand any issues.

spottybox

Eireog1 wrote: »

You are a sole trader who has registered a business name. You will be jointly assessed under your husbands number as he is the assessable spouse. You should have the business invoices issued with the registered number as per Revenue. On your tax return you will fill in husbands income and your adjusted profit from the business and it will be all assessed through your husbands number. This is a common practice. I recommend getting professional advice if you don't understand any issues.

so my business number will be pps of my husband. yes i will go to revenue i am goin also to do course about starting new business. hope it will help;)) thanx

2ndcoming

Your husband must already be self-employed / registered for self-assessment?

If his only income is PAYE it should be registered under your number and you would become the assessable spouse, as you are the chargeable person in that instance.