If you have been trading as a sole trader and have substantial fixed assets, debtors and creditors can the company buy the full balance sheet or parts of it from the sole trader?
Presumably there would be issues with creditors having made a contract with a sole trader then being transferred into a limited liability company? How is this dealt with?
Is there a good (condensed) guide available on the details of incorporation?
abacus111
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Incorporation
When incorporating a sole trader, the company can purchase the assets of the sole trader, at MV. The liabilities cannot be transferred into the company as they are the responsibility of the individual.
I am not aware f a "guide" for the whole incorporation process, this is something you learn during your studies and work experience.