Sole Trader - Change "Ownership"

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Hi,

My wife is currently set up as a sole trader. I've been employed by her for the last 3 years, but now I wish to change our roles so that I become the sole trader and I employ my wife. Is it possible to do this? I don't want to have to set up a new company (as a sole trader) as we want to keep the existing company name, stationary etc.

The reasons for this are; I'm now doing most of the work in relation to the "company" and my wife will be on maternity leave next year, with the option of staying off work for a further 6 months. As an employee, she could sign on for this additional time. Am I correct?

Thank in advance,

Skip
 
If the curent owner of a business name (sole trader) wants to change ownership, the current owner must first cease trading under the business name and then the new owner can apply to register the name again under new ownership.

[broken link removed]

Form RBN3 to cease the business name
Form RBN1 to register a new business name
 
Why dont ye just set up a partnership. If you are an employee of your wife (or the other way round) you are a class M employee which means that you are not liable to any prsi. Under a partnership then you could both be paying Prsi contributions.
 
If you transfer "ownership" of the sole trade, your wife will have ceased trading and will have to complete her returns accordingly.

Why doesn't she employ you as an employee instead? Self employed PRSI contributions should entitle her to maternity leave from the State anyway.
 
Hi,

Thanks for the replies. I'm pretty sure that I was told by the revenue that a husband and wife can't set up a partnership. That was a few years back, have things changed?
My wife will be entitled to the state maternity benefit, but if she was off work for longer then the 6 months, she can't claim for employment benefit as she's currently self employed.

Thanks again
 
A husband and wife can form a partnership.

However, a person can't claim jobseekers' benefit unless they are actively looking for and willing to work. If your wife is remaining out of work to mind the baby, she won't be entitled to welfare payments.
 
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