Legal Entity Change vs Transfer Account

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Seller_Xtf0J79gZ7xxE

Legal Entity Change vs Transfer Account

Hello,

Can anyone explain the difference between Legal Entity Change vs Transfer Account?

Or are they identical things.

I would like to go from a Sole Proprietor to a LTD. But I am confused as how to do it.

Would I need to 1) follow the transfer account option in my account settings, or 2) email the verification team to let me change the entity type on my account and go through verification.

Would really appreciate any input on this.

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Seller_lljyzgTxr5fgI

Going from sole trader to limited company is a Legal Entity change. A transfer would be if you sold your sole trader business to another person. Before you do anything ensure you have done everything with Companies House and HMRC so that you have all the company documentation ready at hand.

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