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Question for authors who have other self-employed enterprises

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Offline Daphne Reading Wanted by Tim Arnot
18 Sep 2014, 10:09 AM | Post: #1

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Question for authors who have other self-employed enterprises

I know we have a number of authors on KUF who also edit. For those of you in UK - if you are already registered as self-employed as a writer, did you inform the tax-bods when you also set up as editor, formatter, window cleaner, graphic artist, tap dancer, or any other second string to your self-employed bow? Of did you just wait for the next self-assessment form and include all details on there?
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Offline Scribbler Reading TBR list - I hate you!
18 Sep 2014, 02:09 PM | Post: #2

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RE: Question for authors who have other self-employed enterprises

I would imagine that you just add any details to the form that is relevant to the tax year that you started your tap dancing enterprise in. Wink
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Offline davidwailing Reading
18 Sep 2014, 03:07 PM | Post: #3

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RE: Question for authors who have other self-employed enterprises

I'm only registered for my editing business, not as a writer - since the two are so closely connected, I'm just going to declare my writing earnings as part of my editing earnings. But a quick search suggests that HMRC would like to be informed if you are involved in more than one business. This doesn't affect your tax but it seems to affect your national contributions.

Helpsheet: https://www.gov.uk...
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Offline Daphne Reading Wanted by Tim Arnot
18 Sep 2014, 03:11 PM | Post: #4

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RE: Question for authors who have other self-employed enterprises

Thanks Scribbler.
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Offline Daphne Reading Wanted by Tim Arnot
18 Sep 2014, 03:17 PM | Post: #5

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RE: Question for authors who have other self-employed enterprises

Thanks, David. I will read that through. I avoid contacting HMRC directly because every person I speak to tells me something completely different and I have to keep phoning until I can get at least two to agree on anything.
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Offline alexroddie Reading The Terror by Dan Simmons
18 Sep 2014, 03:49 PM | Post: #6

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RE: Question for authors who have other self-employed enterprises

I've done more or less what David has done. All of my editor / author activities come under Pinnacle Editorial, because my books are technically published by Pinnacle Editorial Press. It keeps things nice and simple.
Offline Mads Sorensen Reading A Quiet Life by Natasha Walter
18 Sep 2014, 05:06 PM | Post: #7

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RE: Question for authors who have other self-employed enterprises

According to my accountant, the UK (or perhaps England, Wales and Northern Ireland tomorrow) is pretty unique in that you can include anything you like under one company umbrella. For example, the purpose of our company (my wife's and mine) is something like, 'Consultancy to the oil business and the publication of literature and art (my wife's part)'. As far as I'm aware, the number or variety of elements don't affect the tax or national insurance in any way
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Offline Daphne Reading Wanted by Tim Arnot
18 Sep 2014, 05:33 PM | Post: #8

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RE: Question for authors who have other self-employed enterprises

(18 Sep 2014 05:06 PM)Mads Sorensen Wrote: Wrote:  According to my accountant, the UK (or perhaps England, Wales and Northern Ireland tomorrow) is pretty unique in that you can include anything you like under one company umbrella. For example, the purpose of our company (my wife's and mine) is something like, 'Consultancy to the oil business and the publication of literature and art (my wife's part)'. As far as I'm aware, the number or variety of elements don't affect the tax or national insurance in any way
Thanks, Mads. Comments so far seem to suggest that it makes sense to keep things simple and return all income under one self-employed umbrella.
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Offline George Hamilton
18 Sep 2014, 07:53 PM | Post: #9

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RE: Question for authors who have other self-employed enterprises

If you are running a Limited company, then you can include it all within the one company financial statements, but HMRC may still want you to split the income and expenses between two business (within the same financial statements and tax returns) if the businesses are very different. 
If you are self-employed, again if the two businesses are clearly different, you will have to treat them as such, but you will still complete one tax return, but with 2 sets of self-employment pages to be completed. If you are treating them as a separate businesses, I think you still need to inform HMRC within the usual time limits (I think 3 months) of when you start each.
Offline Scribbler Reading TBR list - I hate you!
18 Sep 2014, 10:41 PM | Post: #10

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RE: Question for authors who have other self-employed enterprises

(18 Sep 2014 03:11 PM)Daphne Wrote:  Thanks Scribbler.
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