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Can you have two tax ids?

Discussion in 'Business & Tax Advice' started by scriptox, Nov 20, 2012.

  1. scriptox

    scriptox Regular Member

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    Im from the uk and have already registered as a soler trader and have a tax ID.

    I have another company i wanted to keep separate and need another tax id for it. Is this legal?
     
  2. suga051982

    suga051982 Regular Member

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    It sounds like you have 2 DIFFERENT company's and want their business dealings kept separate. If this is correct, then yes, having two tax ids is legal.
     
  3. Gallifrey2

    Gallifrey2 Newbie

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    Suga is correct. You can request a TIN for each new entity. I have several my self.
     
  4. Stoudenmire

    Stoudenmire Registered Member

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    You can get a new ID for each new earner :)
    Best of luck,
    Stoudenmire
     
  5. No.RuleZ

    No.RuleZ Elite Member

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    u have 2 different societies right? if so u have 2 tax ids
     
  6. scriptox

    scriptox Regular Member

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    How do i apply for the second though? I registered myself already as sole trader for an offline business i own, can i register twice? Go ltd? Or get a second id through my existing id?
     
  7. Reyone

    Reyone Elite Member

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    Sole trader means you and the company are 1, whatever affects the company COULD affect you.
    Open Ltd companies, however they are more strict, so just be careful on what you do.

    /E: in fact, you can simply open another sole trader, it will have another tax id since it is another entity, even if it is still related to you.
    As soon as you register you will receive your companieshouse reg number and you will see that you'll have a different tax number as well.
     
  8. scriptox

    scriptox Regular Member

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    So should i register under companieshouse website and not the hmrevenue site?
     
  9. scriptox

    scriptox Regular Member

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    Bumped
     
  10. GauravJ

    GauravJ Power Member

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    Well a company is treated as different entity and has separate legal status than that of It's promoters and directors
    So, one can form own two or more corporations or one proprietorship firm and corporation(s) but if two proprietory firm will be treated as a single Tax entity i.e. Proprietor. All these structures are totally Legitimate nothing wrong in them.
    Moreover, Tax status and structure may also differ from country to country and their respective laws.
     
  11. seoways

    seoways Jr. VIP Jr. VIP Premium Member UnGagged Attendee

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    if you operate them from two different states,, it is possible i guess
     
  12. Moneyman94

    Moneyman94 Junior Member

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    Set up two different entities and you can easily have two EIN's.