Neil1980 wrote:

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Please excuse my ignorance.

I run and do the bookkeeping for my sole trader company and have recently started a dormant Ltd company of the same name of which I am the sole director. My question or questions to you all are:

1. Should I run the sole trader company as a subsidiary of the Ltd company once the LTD company is no longer dormant. 

 

2. The sole trader has a bounce-back loan from the bank, can this be transferred to the ltd company and then no need for a subsidiary?

 

3. What other implications should I consider or be aware of when transferring to an ltd company. 

 

The reasoning behind transferring from sole trader to ltd company is to access more funding in the sector we work and looking at expansion. I appreciate any comments and help you are able to offer.

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This forum is for professionals. You need one.  Not a bookkeeper, although you may need one of those as well with your expansion plans. Expansion  not necessarily a good reason for incorporating. You need an Accountant. Plus someone to value the sole trade business. One who will also give the tax advice needed for this and negotiate with HMRC  (1) No . (2) No. You are on the hook personally.  (3) Lots, too many to ask on a forum. Too many to ask for free. So much we do not know. You need bespoke advice.