Hi,
I work at a pub where I help with the accounts (I am at AAT level 3). The tenant is a sole trader. He is running the pub into the ground and as a result has debts to both suppliers and HMRC (in the form of VAT). He says he can just leave and the debts belong to the next person who takes over the pub. Considering that I am considering doing this, I need some advice. My understanding is that all debts belong to him as he is a sole trader. Am I right?
I'm sorry if this is the wrong place to put this. If so, could you redirect me to the best place.
Thank you for your time.
I work at a pub where I help with the accounts (I am at AAT level 3). The tenant is a sole trader. He is running the pub into the ground and as a result has debts to both suppliers and HMRC (in the form of VAT). He says he can just leave and the debts belong to the next person who takes over the pub. Considering that I am considering doing this, I need some advice. My understanding is that all debts belong to him as he is a sole trader. Am I right?
I'm sorry if this is the wrong place to put this. If so, could you redirect me to the best place.
Thank you for your time.