> Incorporations / Disincorporations
Business owners therefore need to be aware of the different trading vehicles available to them and this may mean a change.
Sole traders and partnerships can become limited companies and this may be advantageous if turnover and profits are on the increase. This can also be beneficial from a tax point of view if a business has developed and can evaluate goodwill. This is generally a straightforward process but there are pitfalls and tax and personal implications which should be considered and discussed.