Tell HMRC about a change to your business

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Change to your business

You must tell HM Revenue and Customs (HMRC) if certain things about your business change.

You must tell HMRC if you decide to change the legal structure of your business, for example if you become a limited company or set up a partnership.

As well as registering under your new structure, you’ll need to tell HMRC if you stop being self employed or close a limited company.

To close a partnership, the nominated partner needs to report this on the final partnership tax return.

Changes to a partnership

You do not need to tell HMRC a partner is joining or leaving unless the partnership is VAT-registered. Partners still have to send a Self Assessment tax return for the year they leave.

If your partnership is VAT-registered, you must tell HMRC when a partner joins or leaves within 30 days - you can be fined if you do not. Download and fill in form VAT 2.

If a partner dies or is made bankrupt

If there are 2 partners the partnership will be automatically dissolved.

The remaining partner must re-register for Self Assessment as a sole trader.

If there are more than 2 partners, the partnership will be dissolved unless the partnership has agreed otherwise.

If the nominated partner dies, the partnership must nominate another partner and tell HMRC as soon as possible. If they do not, HMRC will nominate one and write to the partnership. That partner must then complete any outstanding partnership tax returns.

Employing staff

You must register as an employer when you start employing staff or using subcontractors.

VAT changes

Certain things may affect your VAT registration or mean you have to register for VAT, like changes to your:

  • turnover
  • main business activity
  • membership of a VAT group

You must tell HMRC about any changes within 30 days.

Changes to your bank details

You must give HMRC 14 days’ notice if your bank details change.

Changes to your VAT if you import or export

If you import or export and have an EORI number, you must tell the EORI team if:

  • you register (or deregister) as a VAT trader
  • your VAT details change (for example your company name, address or VAT number)

Appointing someone to handle your tax affairs

You must tell HMRC if you want to authorise someone to look after your tax affairs or VAT.

Closing or selling your business

You must tell HMRC if you:

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