How to Change Trading Name for a Sole Trader
Contact the relevant offices., Collect necessary documents., Provide your new information., Don’t forget local and state authorities., Check if you need to register a fictitious name., Pick a new name., Search if your new fictitious business name is...
Step-by-Step Guide
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Step 1: Contact the relevant offices.
Each country has a different process for changing a legal business name.
You should contact the government agencies you registered your business with when you opened it.
They can tell you the process for changing your business name and can give you the necessary forms to fill out.
Go through your papers and find all of the agencies you registered with.
In the United Kingdom, for example, you need to contact HM Revenue and Customs to update personal details about your business.In Australia, you need to contact the Australian Taxation Office (ATO) directly to change the entity name of the sole trader.You can update your details at this website: https://www.ato.gov.au/.
In Canada, you should contact the Canada Revenue Agency and the province you registered with. -
Step 2: Collect necessary documents.
The government office might need to see personal and business documents in order to make the name switch.
You should gather the following information: your official business license documentation your ID any documentation pertaining to your legal personal name change, if applicable , In some countries, you can update business details online.
However, in other countries you might need to fill out paperwork or write a letter.
The government agency you contact should tell you how to update your information. , In many countries, you register with the federal government but also with local and state or territorial governments.
You may have to pay taxes to all of them.Accordingly, all of these taxing authorities need to know that you have changed your name.
Go through your business paperwork and see who you have registered with.
Make sure to contact these agencies and tell them you are changing your name. , Not every country requires that you register fictitious business names.
For example, the U.K. does not require registration (though it regulates names).If you are unsure, then contact the government agency that issued you a business license.
Ask if you have to register a fictitious name.
A fictitious name is called different things in different countries.
In Australia, for example, fictitious names are called “trading” or “trade” names.
In Canada, a fictitious name is called an “operating” name., Think about what you didn’t like about your old fictitious name, or why it needs to be changed.
For example, you should consider the following:
Your old name wasn’t effective.
Your name should stand out in the marketplace.
Your old name was confusing.
It might have been too similar to another business name. , You can’t use a name if it has already been chosen.For example, if Joanna Smith wants to operate under “Cupcakes Express,” then she needs to check whether that name is available.
There should be a database that you can search to see if a name has been chosen.
In the U.K., you can check the availability of names through the Companies House register.You may also use the National Business Register, which is free: http://www.start.biz/.
In Australia, you can search for the availability of names at the Australian Securities and Investments Commission website: http://asic.gov.au/for-business/registering-a-business-name/before-you-start/business-name-availability/. , You also should check to see if the new name is protected by a trademark or service mark.
If so, then you can’t use it and you must choose a different name.
Read See If a Name is Trademarked for tips.
Also check the WHOIS website to see if someone is already using the web domain.If so, then you should pick another. , You should decide whether you want to stop using your old name entirely for business purposes.
If you do, then you should cancel the name.The government agency should tell you how to do this. , You might be able to change your fictitious business name entirely online or by calling over the telephone.If you are given forms to fill out, then double check that you have provided all requested information and that your handwriting is legible.
Make a copy of the forms for your records and then submit the originals to the necessary office. , Once you change your trading name, you need to let your business contacts know.
Accordingly, you should make a list of everyone you have done business with, beginning with the most important: your bank any lenders you have a loan with your suppliers regular customers , You can call anyone you have a contract with, so that they can begin updating your contracts.
For example, you should call your landlord or a bank that made a business loan.
They might need you to fill out paperwork to update the agreements.However, you can tell other business associates of the name change by writing a letter.
Include updated marketing or promotional materials. , You also need to update your company’s stationary and business cards to reflect your new business name.If you have any other promotional materials with your company's name on them, have them updated too.
Don’t forget signage around your business and the name you have listed in the phone book.
Remember to change your website.
Depending on the name change, you may need to buy a new domain for the website. , By issuing a press release, you can be sure that everyone in your field—even your business rivals—are aware of the name change.
You can send it to your local press or to any specialty presses in your industry.See Write a Press Release for more information. -
Step 3: Provide your new information.
-
Step 4: Don’t forget local and state authorities.
-
Step 5: Check if you need to register a fictitious name.
-
Step 6: Pick a new name.
-
Step 7: Search if your new fictitious business name is available.
-
Step 8: Check if the name is otherwise protected.
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Step 9: Decide whether to cancel any old names.
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Step 10: Submit the necessary forms.
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Step 11: Make a list of all business associates and contacts.
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Step 12: Contact your business associates.
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Step 13: Update marketing materials.
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Step 14: Think about issuing a press release.
Detailed Guide
Each country has a different process for changing a legal business name.
You should contact the government agencies you registered your business with when you opened it.
They can tell you the process for changing your business name and can give you the necessary forms to fill out.
Go through your papers and find all of the agencies you registered with.
In the United Kingdom, for example, you need to contact HM Revenue and Customs to update personal details about your business.In Australia, you need to contact the Australian Taxation Office (ATO) directly to change the entity name of the sole trader.You can update your details at this website: https://www.ato.gov.au/.
In Canada, you should contact the Canada Revenue Agency and the province you registered with.
The government office might need to see personal and business documents in order to make the name switch.
You should gather the following information: your official business license documentation your ID any documentation pertaining to your legal personal name change, if applicable , In some countries, you can update business details online.
However, in other countries you might need to fill out paperwork or write a letter.
The government agency you contact should tell you how to update your information. , In many countries, you register with the federal government but also with local and state or territorial governments.
You may have to pay taxes to all of them.Accordingly, all of these taxing authorities need to know that you have changed your name.
Go through your business paperwork and see who you have registered with.
Make sure to contact these agencies and tell them you are changing your name. , Not every country requires that you register fictitious business names.
For example, the U.K. does not require registration (though it regulates names).If you are unsure, then contact the government agency that issued you a business license.
Ask if you have to register a fictitious name.
A fictitious name is called different things in different countries.
In Australia, for example, fictitious names are called “trading” or “trade” names.
In Canada, a fictitious name is called an “operating” name., Think about what you didn’t like about your old fictitious name, or why it needs to be changed.
For example, you should consider the following:
Your old name wasn’t effective.
Your name should stand out in the marketplace.
Your old name was confusing.
It might have been too similar to another business name. , You can’t use a name if it has already been chosen.For example, if Joanna Smith wants to operate under “Cupcakes Express,” then she needs to check whether that name is available.
There should be a database that you can search to see if a name has been chosen.
In the U.K., you can check the availability of names through the Companies House register.You may also use the National Business Register, which is free: http://www.start.biz/.
In Australia, you can search for the availability of names at the Australian Securities and Investments Commission website: http://asic.gov.au/for-business/registering-a-business-name/before-you-start/business-name-availability/. , You also should check to see if the new name is protected by a trademark or service mark.
If so, then you can’t use it and you must choose a different name.
Read See If a Name is Trademarked for tips.
Also check the WHOIS website to see if someone is already using the web domain.If so, then you should pick another. , You should decide whether you want to stop using your old name entirely for business purposes.
If you do, then you should cancel the name.The government agency should tell you how to do this. , You might be able to change your fictitious business name entirely online or by calling over the telephone.If you are given forms to fill out, then double check that you have provided all requested information and that your handwriting is legible.
Make a copy of the forms for your records and then submit the originals to the necessary office. , Once you change your trading name, you need to let your business contacts know.
Accordingly, you should make a list of everyone you have done business with, beginning with the most important: your bank any lenders you have a loan with your suppliers regular customers , You can call anyone you have a contract with, so that they can begin updating your contracts.
For example, you should call your landlord or a bank that made a business loan.
They might need you to fill out paperwork to update the agreements.However, you can tell other business associates of the name change by writing a letter.
Include updated marketing or promotional materials. , You also need to update your company’s stationary and business cards to reflect your new business name.If you have any other promotional materials with your company's name on them, have them updated too.
Don’t forget signage around your business and the name you have listed in the phone book.
Remember to change your website.
Depending on the name change, you may need to buy a new domain for the website. , By issuing a press release, you can be sure that everyone in your field—even your business rivals—are aware of the name change.
You can send it to your local press or to any specialty presses in your industry.See Write a Press Release for more information.
About the Author
Kelly Long
Creates helpful guides on crafts to inspire and educate readers.
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