Hi there,
I’ve searched the forums but I am unable to find and an answer.
I need to cease trading. Naturally I have to inform HMRC, but how do I get quickfile to reflect that i’ve stopped trading? I can’t find an option in the settings to do this so is there a procedure to follow?
Thanks in advance,
Jamesla.
Hi @jamesla
I’m not an accountant, so it’s worth double checking, but I believe all you would need to do is show what’s happened to the assets of the business.
If you’re a sole trader for example, changes are they will be transferred to you. If you’re a limited company, fixtures and fittings for example may be sold on.
Are you able to provide any further information, such as your set up (ltd company, sole trader, partnership etc.), what you have in the business (fixtures, fittings, cash, stock etc.), and anything else you’re unsure about. If I can’t help, we do have accountants on the forum who may be able to advise on how to proceed too.