Continuing the discussion from Changing from a sole trader to a limilted company:
My power user profile on the sole trader account is due for renewal 1 May, since 1 April I have become a ltd company and did as you suggested and changed the email on the sole trader account so that both are currently active. Question is, I hope to have done all my bank tagging and accounts before 1 May do I still need the power user in that case - do I lose any historical functionality if that makes sense? Hopefully I can not renew and then just become a power user on the new account at the appropriate time?
Also you said you could migrate across my customers and suppliers - does this mean I lose them on the sole trader account or do you copy them over? If so can I organise that now please, let me know what details you need and who to contact? Thanks Kirsty
Whether you need the subscription on your sole trader account depends on your usage level - QuickFile requires you to have a subscription in order to access your account if you have created more than 1000 nominal entries in the last (rolling) 12 month period, which you can check at https://{yourcompany}.quickfile.co.uk/account/usagereport. If that shows you as being L or XL then you will need to renew the subscription if you want to be able to continue to log in immediately after 1st May.
However note the word “rolling” in my previous paragraph - once you stop creating new entries in the sole trader account, at some point in the next 12 months the “number of entries in the last 12 months” will fall below the 1000 threshold and the subscription will no longer be required from that point on. You can actually see when that point will be from the usage report page, it’s quite subtle but you should see in the left hand date column that there is a point where the dates change between normal type and italics - this is the point at which you tip the 1000 threshold, so if you’re not adding any new entries then one year from that point is when the subscription becomes optional.
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