> Incorporations / Disincorporations

Incorporations / Disincorporations

The life cycle of a business is dynamic and changes can occur from year to year, month to month and even from week to week. Trade, sales, customers, suppliers and personal circumstances all influence how a business is run and how it should operate.

Incorporations / Disincorporations - Business owners need to be aware of the different trading vehicles available to them.

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.

Moreover, there may come a time when a business is slowing down and may wish to get out of the company regime and disincorporate, this is also possible but needs careful consideration.

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