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Partnership Cessation

Mr Grind · 2012-05-29 20:51:21

Hi, I recently set-up a 50:50 partnership 6 months ago with a mate which I now wish to dissolve. I want to set-up the business on my own and therefore register myself as a soletrader. A joint bank account was established but there has been no trading to date. What is the best method of doing this? Should I completely…

29-05-2012 8:51pm

#1

Mr Grind

Registered Users, Registered Users 2 Posts: 7 ✭

Join Date: March 2011

Posts: 5

Hi,
I recently set-up a 50:50 partnership 6 months ago with a mate which I now wish to dissolve.
I want to set-up the business on my own and therefore register myself as a soletrader.
A joint bank account was established but there has been no trading to date.

What is the best method of doing this?

Should I completely dissolve the partnership or could partner B just quit?

What forms will I need?

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Comments

#2 30-05-2012 8:19am

dbran

Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭

Join Date: October 2004

Posts: 2041

Hi

Do you have a partnership agreement?

Presumably the partnership has not traded to date. A partnership can effectively just be dissolved from a certain date onwards.

Kind Regards

dbran

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