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Question About Limited Company
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Can anyone shed any light on this? My friend retired four years ago and sold his successful small business as a going concern to one of his employees.
The business has continued to thrive and is doing very well, I am still a customer.
I am puzzled because it was sold as a limited company. My friend resigned as director and the new owner was appointed director. Three months later the limited company was dissolved and the business continues with the same name minus the Ltd.
I am curious as to what the advantage would be to the new owner to dissolve the limited company and continue as a sole trader.
The business has continued to thrive and is doing very well, I am still a customer.
I am puzzled because it was sold as a limited company. My friend resigned as director and the new owner was appointed director. Three months later the limited company was dissolved and the business continues with the same name minus the Ltd.
I am curious as to what the advantage would be to the new owner to dissolve the limited company and continue as a sole trader.
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