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winsterlea said:
“
Hello all
I've been running a Ltd Company bookkeeping business for 5 years, but have recently taken on an employed position. Ideally I would like to unincorporate, but keep a dormant type sole trade in the same name so that I can still act as an agent for those freebie, family & friend self assessments etc. Does anyone have any experience of the revenue's take on this? And if the sole trade became "non dormant' in the future, would that be OK? I know you can't unicorporate and continue to trade for tax benefit, but I'm below the tax threshold anyway!
Thanks in advance
Sally
”
HI Sally
You can pretty much call your Sole Trader business what you like - subject to not using trademarks, patents etc - it is not a problem, Your incorporated business can become dormant when no transactions have been processed for the accounting year. You have to submitt dormant accounts annually just like you would normally do - it is ever so easy!
Good luck!
Jane at Modern Bookkeeper
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