UK Taking over a business


Joined
Jul 30, 2019
Messages
1
Reaction score
0
Country
United Kingdom
My husband has retired and I have taken over his business. Can I do this without closing the existing business down.
 
Ad

Advertisements

kirby

VIP Member
Joined
May 12, 2011
Messages
1,801
Reaction score
240
Country
United States
This is a forum for accounting questions. Please post your question in a legal firum. Sorry.
 
Joined
Sep 1, 2011
Messages
85
Reaction score
3
This question should have probably gone in the Technical Queries section.

The answer is yes, you can take over the business without closing it down. There are other questions that need to be answered but I would like to know more information concerning the business.
 
Ad

Advertisements

Joined
Jun 30, 2017
Messages
35
Reaction score
0
Country
Switzerland
Agree in principle with Truemanbrown. One major point you should consider when deciding whether to take of the legal entity or buying the assets /goodwill only without touching the legal entity are "potential liabilities" that might have accumulated against your husbands company. One of the major reasons to operate under a corporate umbrella is to benefit from the financial liability protection of a legal entity.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top