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Dissolving Partnership - help needed
betlarge
Posts: 26 Forumite
Hope someone can help.
I am a partner in a business but for health reasons I am having to go part-time from the start of the new tax year.
I would like to hand the business over entirely to my partner, so he becomes a sole trader. We have then agreed that I should 'keep my eye in' work-wise billing my former partner for any work done. I too will be a sole trader.
Who do you we need to inform of this apart from the IR?
What do we need to send to the IR to confirm this arrangement?
Thanks in advance.
I am a partner in a business but for health reasons I am having to go part-time from the start of the new tax year.
I would like to hand the business over entirely to my partner, so he becomes a sole trader. We have then agreed that I should 'keep my eye in' work-wise billing my former partner for any work done. I too will be a sole trader.
Who do you we need to inform of this apart from the IR?
What do we need to send to the IR to confirm this arrangement?
Thanks in advance.
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