Reply To: Self-employed – one employment or two?

#286440
Kay_Tade
Participant

From 2019 to 2021 she was trading as Hearts & Flowers and then in the summer of 2021 she acquired About Flowers seemingly as a going concern. She has stated that the idea behind purchasing the new business (with a loan and an inheritance (that she did not declare that we’ll look into separately)) was to expand her business and to not have to rely on benefits and to provide more for her children. She has also said that the flower shop for the original business was too small and did not allow her to expand, and the acquisition of the new would allow for this.

I have to say I am always wary of the capital “disregard” issue with business assets acquired, not a fan, as it is as if anyone can do this and only show they have not done so in order to increase/obtain benefit.

The inheritance would be my starting point if over £16K, I know the disregard is a whole other topic but very worth looking into.