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Transfer of Sole Trader business to wife
debtfreeian
Posts: 146 Forumite
Hi, just looking for some advice.
I've been running a small online business for a couple of months and project it'll make some money. I've got a new job and don't have time to run it.
My wife works part-time and she would be keen to carry it on.
Is it acceptable for her to register as a sole trader and for me just to sell her the stock I have left at cost and then de-register as a sole trader.
Would this be ok or is there a better way? She's just in the 20% tax band and I'm 40% if that affects matters.
Thanks
I've been running a small online business for a couple of months and project it'll make some money. I've got a new job and don't have time to run it.
My wife works part-time and she would be keen to carry it on.
Is it acceptable for her to register as a sole trader and for me just to sell her the stock I have left at cost and then de-register as a sole trader.
Would this be ok or is there a better way? She's just in the 20% tax band and I'm 40% if that affects matters.
Thanks
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