Selling a ltd company?

UK PROFESSIONAL DRIVERS FORUMS OWNER AND FLEET OPERATORS FORUM (INTERACTIVE)
1

IM AN OWNER DRIVER WITH 2 STANDARD NATIONAL LICENCES , 1 FOR 2 TRUCKS/TRLS OTHER 1 TRUCK/TRL, FIRST IS LTD WITH ACCOUNTS AND ALL ABOVE BOARD GREEN LIGHT ETC , OTHER SOLE TRADER, ANYWAY SOMEONE HAS OFFERED TO BUY THE LTD CO FROM ME BUT THEY DONT WANT MY TRUCK (WHICH AINT WORTH £4K ANYWAY) THEY JUST WANT TO REPLACE ME AS A DIRECTOR AND SET THEYRE OWN BUSINESS BANK ACCOUNT UP , OBVIOUS IMPLICATION IS IM THE TRANSPORT MANAGER AND WANT TO KEEP ON THE RIGHT SIDE OF MR ROONEY, ANY THOUGHTS MY LEARNED FRIENDS?

I’m an owner driver with 2 standard national licences , 1 for 2 trucks/trls other 1 truck/trl, first is Ltd with accounts and all above board green light etc , other sole trader.

Anyway someone has offered to buy the Ltd co from me but they don’t want my truck (which ain’t worth £4k anyway) they just want to replace me as a director and set their own business bank account up , obvious implication is I’m the transport manager and want to keep on the right side of Mr Rooney, any thoughts my learned friends?

I fixed your CAPSLOCK for you. :wink: dd.

2

I looked into this, and it can be done although you would be skating on very thin ice. The way to do it is for the new owner to become a director and after a suitable period operating with two directors, for you to resign as a director. Depending on your luck, this may keep you off the TC’s radar.