Mtd4tax and two trades dilemma

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how would I deal with a client who has two trades and mtd4tax requirements to submit two separate digital records? see extert from gov.uk guidance….. For example, if you are an electrician as well as a driving instructor, you should create one set of digital records for each of your businesses.

You should create separate digital records for your UK and foreign property businesses, if you’re UK tax resident.

Your:

  • UK properties are treated as one ‘UK property business’

  • non-UK properties are treated as one ‘foreign property business’

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Hello @ltbbookworks

You can use one account, you would just separate the income streams using nominal codes in the chart of accounts

e.g.
4001 “Electrician income”
4002 “Driving Instructor income”
4003 “Rental income 1 Grey Street”

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