Stopping self employment, quick easy question.

MrMini

Hello,

I have recently sold a business which i have been running for 5 years. I was a sole trader selling video games. On the HMRC stopping self employment form it has a required field which simply states 'Nature of trade'. What information is this asking for? The trade the business dealt with? The trade agreement with regards to sale of the shop? I've tried googling it but not had much joy.

Thank you in advance!

Craig

Mistral001

I should have thought the clue was in the term "sole trader":D

What trade did you ply? In your case it was selling video games. I do not think it is any more complicated than that.

Remember as a sole trader there is no business as an entity in law so what you sold was probably the premises, stock and good will etc and not the business. I would consult a lawyer on this one though if you are in any doubt.