Trading as a Ltd Co or LLP

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in General accounting discussion
Just wondered whether any MIPs out there traded as a Ltd Co or LLP?

If so, how easy is it to transfer your status in terms of PI ins, licensing certificate etc.

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Trading as a Ltd Co or LLP

    Hi Paul,

    I trade as a limited company and this didn't seem to cause any problems either with AAT or insurance.

    With the AAT insurance, I was also able to tie in other aspects of the company which originally did nothing other than write bespoke accounting software.

    I can't imagine that transfering would cause problems.

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Trading as a Ltd Co or LLP

    Hi

    The MIP License applies to an individual not a business, so there is no need to chaged the licence other than informing the AAT that you trade through a corporate body - it is still you who is accountable. Insurance wise I would imagine you would need the insurance in the companies name as it is the company that would be responsible (legal or other wise) for any claim.

    Neil

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