Change business type from Limited to Sole trader

How do i go about changing the business type on my account. I have searched everywhere and have not been able to do it.

The short answer is you can’t. Sole traders and Limited companies use a different configuration which can’t be changed once the account is registered. If you wish I can close your existing account, freeing you up to re-register with the correct company type?

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Does it make an awful lot of difference to my end of year accounts? as it would be a real pain to have to re input all of my client details and barclays etc.

It would make a difference as sole trader accounts use a slightly different set of nominal codes. Also the system is configured differently for Limited companies to handle things like dividends, director loans etc. We can port across all your clients and suppliers if that helps? You can also go back 60 days with Barclays if you download a CSV file from your online banking.

If you are able to port across all the details that would be a great help. I am relatively new to self employment and appreciate any help i am given. Could you please do whatever needs to be done in order to create a sole trader account, and let me know what i need to do also. thanks

I’ve found one account but I’m not sure it’s yours as there is only 1 supplier and 5 clients. The company name is ‘SCOTT WALDRON’. Account ******5758? We can only run the client and supplier migration tool when there are over 10 contacts to move.

That’s the one. It should be fine I have jotted all the details down. That is the correct account. If you proceed in terminating the account for me I will re register correctly.

I have disabled your original account, freeing you up to re-register with the correct company type.

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