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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3840
Experience:  Solicitors 2 years plus PQE
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I am currently a sole trader working in the property

Customer Question

I am currently a sole trader working in the property market and I am considering the benefits of transferring to a Ltd company. My question is : If I go Ltd and a professional legal case is brought against me at some point in the future, but for work that was carried out when I was a sole trader do I have ltd personal liability for that claim ?
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you, you will remain responsible for your acts as a sole trader for a period a of six years until such time as they became statute barred. The only way to avoid previous liabilities incurred in your personal name is ***** ***** the party that you owe the liability to, to allow you to transfer that liability to the limited company. All actions that you do in the name of the company going forward will be the company's responsibility. Kind regards AJ