Sounds like you have an interesting background, although you have to be a bit mad to set one up of your own.....so welcome to the rest of us mad people! Where are you based now?
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position