Registration question?

[aaron_2000]

I'll start by saying this is a hypothetical. If someone was running a moderately successful business but hadn't bothered to register it, could you register the business in your name and then effectively take it over? E.G be entitled to the assets, capital etc?

[loafer123]

No.

There are millions of sole traders who do not register their business.

If someone tried to steal a sole traders business assets by claiming they owned them under a new business shell, it would be theft/fraud.

[aaron_2000]

loafer123 said:

No.

There are millions of sole traders who do not register their business.

If someone tried to steal a sole traders business assets by claiming they owned them under a new business shell, it would be theft/fraud.

Figured that to be the case, thanks.

[Eric Mc]

Register with whom?

There is no central "registry" for businesses in the UK.

[akirk]

Eric Mc said:

Register with whom?

There is no central "registry" for businesses in the UK.

This...

About the only thing we register centrally in this country (in assets terms) is land - everything else is based on a system of trust / records / paperwork / possession / etc...

Not difficult to show who has been running a business, and the assets would always be owned by an individual (if sole trader - person) if incorporated - the legal individual which is the company (Ltd / PLC / etc)

[loafer123]

Eric Mc said:

Register with whom?

There is no central "registry" for businesses in the UK.

I assumed he meant Companies House.

[Eric Mc]

loafer123 said:

I assumed he meant Companies House.

I wasn't assuming anything. LIMITED COMPANIES are registered at Companies House. Many limited companies are not trading businesses. Companies House is not a registration centre for businesses.

Sole traders, partnerships etc do not register with any sort of central "business agency". The only requirements for those trading under these types of arrangements is to register the fact with HMRC so the right types of taxes can be paid i.e. Self Assessment Income Tax, VAT, PAYE, CIS etc.

[loafer123]

Eric Mc said:

loafer123 said:

I assumed he meant Companies House.

I wasn't assuming anything. LIMITED COMPANIES are registered at Companies House. Many limited companies are not trading businesses. Companies House is not a registration centre for businesses.

Sole traders, partnerships etc do not register with any sort of central "business agency". The only requirements for those trading under these types of arrangements is to register the fact with HMRC so the right types of taxes can be paid i.e. Self Assessment Income Tax, VAT, PAYE, CIS etc.

I know.

[aaron_2000]

loafer123 said:

Eric Mc said:

Register with whom?

There is no central "registry" for businesses in the UK.

I assumed he meant Companies House.

Yeah I did. When I said register, I meant everything. As in a business being run without anything registered but using a front name.

[Eric Mc]

There is no requirement to register businesses in the UK.