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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3829
Experience:  FCCA FCMA CGMA ACIS
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I am a business sole trader and have been told when I die my

Customer Question

I am a business sole trader and have been told when I die my business ceases to exist I want to find a way that my business will carry on that it will continue to pay bills etc. for my dependants I cannot make a partnership because of tax implications how can I do this please or who can I go to for advice I am also looking to make a will but have to get this problem sorted first thank you
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
To make a will you must seek the assistance of a solicitor who will draft a will for you to execute.
Your business will not actually cease to exist, but its assets will be taken over by your executors if you have made a will or by an administrator if you die intestate who would generally either wind it up, paying off all creditors etc or try to find a buyer and sell it on as a going concern. Any competent local solicitor who you use to prepare your will could be relied upon to give advice on such matters beforehand.
I do hope I have shown you a way forward in this matter.
bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 2 years ago.
Thank you for your excellent support.

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