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View Full Version : Can I make my LTD Dormant and operate as a sole trader?


Dameize
01-13-2012, 01:06 AM
So today I registered my name idea as an LTD but dont want to use it due to I cant afford an accountant etc at the moment and I dont need it either.

Anyway my business is say businessname LIMITED and I intend to leave it dormant. While that is dormant can I operate as a sole trader with the trading name businessname with no LIMITED or LTD?

This would be tons easier for me as im quite stressing about it to be honest.

Im making the assumption that as a sole trader your operating under your personal name with your trading name just as what your caling your self.

Ive read conflicting information in different places.

Can anyone provide me advice on this?

Martyn
01-13-2012, 03:49 AM
So today I registered my name idea as an LTD but dont want to use it due to I cant afford an accountant etc at the moment and I dont need it either.

Anyway my business is say businessname LIMITED and I intend to leave it dormant. While that is dormant can I operate as a sole trader with the trading name businessname with no LIMITED or LTD?

This would be tons easier for me as im quite stressing about it to be honest.

Im making the assumption that as a sole trader your operating under your personal name with your trading name just as what your caling your self.

Ive read conflicting information in different places.

Can anyone provide me advice on this?

Yes you can. When I started trading two years ago nearly I formed as a sole trader. I also held HOBIT limited for one year in case I wanted to go that route. After one year I decided to stay as a sole trader and let the limited company go. I think it cost around 70 to hold for one year.