Moving into a new business premise

[keemaklan]

Hi everyone.

I have a query that I need some help with.

My father has a limited company registered in Upton Park London. Let’s call it “S Ltd”.

“S ltd” has another retail store in Barking, where we’ve been also retailing from, for over 15 years.

I’ve now opened up a new business, and wish to take over “S Ltd’s Barking property”.

We own the freehold in Barking under “S ltd”.

My new company has its registered office at the Barking address, but is there anything else I need to do to officially make it a new store aside from change the sign on top of the door and notify a change in name for business rates?

Utility bills, phone line, and creditors will be notified that there is now a change of ownership and a new business name in place, but is there anything else that I should officially do?

I won’t be taking a lease out on the property seeing as it’s unnecesary expenditure. I was thinking of just writing a small contract between my new company, let’s call it “F ltd” and “S ltd”, with a 6 month rent free period, followed by a rolling rent contract.

I thank you in advance for any replies given,

Regards

Fox

[trickywoo]

Don’t think so.

Just insurance I think of things you haven’t specifically mentioned.

[PurpleMoonlight]

Some Councils refuse to register a new business for the rates without a formal lease to prove occupancy.

[Chrisgr31]

PurpleMoonlight said:

Some Councils refuse to register a new business for the rates without a formal lease to prove occupancy.

Which they are of course wrong to do, as you do not have to have a formal lease to be in rateable occupation. Squatters are in rateable occupation and of course they have no formal lease.