Closing a sole trader business...?

MouseMan01

I'm looking to close a sole-trader, part-time, web business which didn't turn out to be very profitable. I'm about to set up another sole trader business in the tourism field instead.

I've divested myself of most of the clients. But I have one left. I need to bill this client monthly. But I don't want the hassle and expense of filing Income Tax Returns for this business or doing separate monthly accounts.

Can i bill the client from my new tourism business? Is this possible? Is there any solution here? Or should I let the client go and start again?

Gloomtastic!

It’s a sole trader account so you can invoice and get paid in your own name as opposed to using a trading name.

MouseMan01

This is interesting. Can you elaborate pls?

So basically, instead of invoicing with my new company name. I'd invoice with my own name and use my new company sole trader bank account?

Gloomtastic!

Yes, you and your sole trading business are one and the same in the eyes of Revenue. As long as you keep a record of the payment in your business accounts, they don’t give a damn what bank account you use.

MouseMan01

Great. Thanks!