1. Dear *****, the legal position is that you have no liability for the debts of the previous business. Once you incorporated a new company and started trading under a new company name from the premises, you are a different entity in law from any previous business that might have traded from the premises. Just because you might have purchased equipment from the previous business owner does not give rise to any liability on your part. The previous business is responsible for this debt of £1000. But you have no liability for it. In the eyes of the law, you are different entities entirely and there is no carry over of debts from the previous business. So direct this person to the previous business owner with whom he dealt.
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