Moving from Limited Company to Sole Trader
Afternoon,
I have been advised by my accountant that I need to change from a Limited Company to a Sole Trader account.
Is this possible? If so, how do I go about making these changes?
Many thanks
Kirsten
Moving from Limited Company to Sole Trader
Afternoon,
I have been advised by my accountant that I need to change from a Limited Company to a Sole Trader account.
Is this possible? If so, how do I go about making these changes?
Many thanks
Kirsten
0 replies
Seller_DROodOAYHftnc
I know little about limited companies, but I presume you will have to close down your limited company/de-register, but a quick google tells you the process.
OR, are you simply meaning the legal entity type on your Amazon account ?
Seller_rGtEcZnu0JTRD
You will need to consider this carefully, and remember that closing a Limited company and moving to Sole Trader takes away all the personal protections that a Limited Company provides, and makes you personally liable for all debts etc.
Its difficult to say if this is the right move without knowing a lot more about your circumstances, size of the business etc, certainly if you are a very small business then running a Limited company can be expensive in comparison.
