Operating as a limited company but wished you didn’t?

News: February 2013

Operating as a limited company but wished you didn’t?

If you recognise this as an issue, there may be help ahead.
Normally if you want to go back to being a sole trader, probably on the grounds of convenience and costs, the fear has always been that a nasty tax charge could arise.
From 1 April 2013 there will be a special disincorporation relief which will avoid any tax charge provided certain conditions are met. The main one is that the assets transferred to you as a sole trader must not be worth more than £100,000.

Great care is needed if you feel this step is attractive to you.