Do you have any tips to transition from sole trader to company?
I am looking at going from a sole trader to a company. The whole thing hurts my head. I would love to hear any experiences from people who have just done this and how you manage it?
(I'm looking for more personal experiences than the ATO website for example)
Hi Jacqueline,
Have you spoken to your accountant?
They will be the first point of call for you to go and see if a company structure is suitable for you.
Also, they may be able to do all the setting up for you if that is what you are finding difficult. They may have contacts with a company formations firm who will lodge all documents with ASIC on your behalf and send you a company register, for a fee of course.
Usually, when you receive your company register you will also receive a bank account pack that you can take to the bank and set up a bank account for the company.
Please feel free to ask further questions as your original question was general in nature. Or visit the ASIC website.
Steven Freeman at Evolved Sound
The right accountant is essential and sometimes the right legal advice outside what your accountant can advise on is worth it too. The wrong advice can be very costly and messy to untangle down the track.