Home Forums General General Vexillia: Site Available Again & Change of Ownership

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  • #64557
    vexillia
    Participant

    The stocktaking has been done! The stock control system, the web sites have been overhauled to make them easier to maintain and the shop is now open again.

    logo

    As nearly all this work has gone on behind the scenes the web site looks almost exactly the same as it did before the shut down but believe me the business is a lot slicker under the hood.

    Finally, as of Monday, 12 June 2017 this web site is no longer run by Vexillia Limited. It is now owned and run by Martin Stephenson trading as Vexillia. For more details please read the press release.

    Martin Stephenson :: Work | Blog | Auctions

    #64587
    Mike
    Keymaster

    May I be so bold as to ask why the change?

    #64606
    Grimheart
    Participant

    I think the press release pretty much covers it.

    There are a number of legislative and tax changes that make switching back to trading as a “sole trader” a viable option for some small businesses these days.

    For example the previous tax advantages of taking dividends from a limited company gave been greatly reduced this year due to tax changes on dividends.

    Interest include 6mm WW2, 6mm SciFi, 30mm Old West, DropFleet, Warlords Exterminate and others!

    #64774
    vexillia
    Participant

    May I be so bold as to ask why the change?

    Yes you may. 😉

    As Grimheart says the press release gives the main reasons not least of which is the simpler accounting requirements and the fact that most accountant’s fees start at £1k for even the smallest limited company.

    I was already running a separate business as a sole trader and have done since 2002. The switch, combined with closing the limited company, will mean less regular paperwork (bank statements etc) as well as halving the year end work as I will only need one set of accounts.

    The final big advantage is that should I decide to retire in five years time it’s trivial. Closing a limited company is not that difficult but it takes months and must be done a certain way.

    Martin Stephenson :: Work | Blog | Auctions

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