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Any sales you make WHEN you become Ltd Co will transfer.
Sales BEFORE do not transfer
So the liability remains with you.
If you no longer decide to trade, yes you remain personally liable and should take steps to keep insurance in place unless you have a sunset clause on your insurance policy
In short the Ltd Company is liable for the sales IT makes
Can I clarify anything for you about this today please?
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With the personal labially i have as a sole trader if i close or change to a limited how long after do i stop being personally liable?
3 years for personal injury / 6 years under contract
Does that help?
what i sell is LED lighting with a 1 year warranty. how long for them please?
1 year generally, although in theory if someone was injured they have 3 years to bring a claim and 6 years in contract.
Which is why you need to check to see if your insurance has a sunset clause
i dont know if you know about LED lighting but they have a really long lifespan which is meant to be around 10 years + but the warranty is only one year so it just one year i would be liable for?
the reason i ask this is a client has had alot off me and thinks they are faulty but they did not listen and put the wrong power supply on so there was not enough wattage getting to the lights, but they are ringing round finding to other people have issues from my LED supplier in china also, but they put the wrong power supply on so regardless they cant do anything to me?
also i do not have a shop it is just website and phone based sales my terms and conditions are on my website is that enough or would i have to provide them with a copy?
Well if they broke the lights or did not use them in accordance with how they were meant to be used, there is no claim
He can try but likely to fail.
But he should have used them correct.
Does that clarify?
Thanks Alex and the last question my terms and conditions are on the website is that enough or do i have to provide copies?
so the client has to sign my terms and conditions? if i provide copies with orders in future is that enough? thank you again
so as long as i put a copy in with the order of the terms and conditions its enough? last question i promise :)