Multiple businesses (or trades) in untied

How to manage multiple trades in untied

untied supports managing multiple sole trader businesses or trades - provided you are in Making Tax Digital (MTD).  (This is not available if you are not in MTD - but remember that if you're not yet in MTD you can choose to come in voluntarily.)

You will need to use custom tags in untied to differentiate between the two businesses for accurate record-keeping and reporting.

(Note that UK property / foreign property aren't classed as additional trades for these purposes - they're supported natively)

Setting up a new trade

To get going with the new trade, you need to set it up in HMRC's MTD systems, and the details will then appear in untied. But see below!

You may not need to set up multiple businesses in HMRC

Three things to note:

• a trade can be treated broadly - so if you are a hairdresser who also sells hair products to their customers and does make-up ... all of this would be one trade
• if you are doing the same thing for different customers that would not be a separate business.
• if the amount of activity is small, you may be able to include it as incidental to the main trade.

Even if you have one trade in HMRC, you can still use custom tags to break things down in untied by eg customer, project or activity

See this article on how to set them up.