For those persons
acting as sole traders, you must deliver all books and records
of the trading activity to the Official Receiver. This will
tend to have the effect that you no longer trade under the
style that you had been prior to the bankruptcy order being
made.
You can still trade
as a Sole Trader after the bankruptcy order has been made,
however, it is more a practical matter as to whether the nature
of your particular type of self employment requires finance
to enable you to operate.
There are restrictions
as to carrying on business (directly or indirectly) in a different
name from that in which you were made bankrupt, without telling
all those with whom you do business the name in which you
were bankrupt.
It is possible
with the Official Receivers/Trustee in
bankruptcy's permission to use a trading style as long
as the name in which you were made bankrupt is
dominant on the paperwork used, i.e invoices, letterheads
etc.
If you are self
employed, then from the date of bankruptcy to the following
5th April you will have a tax holiday.
