Transferring a trade from self employed status (sole trader or partnership) to a limited company can have many pitfalls.  Detailed consideration of the consequences and options available must always be made.  Tax and financial planning are vital as it is difficult to transfer back (dis-incorporate).  The value of the business including goodwill must be established.  The business will be sold by the individual owner(s) to the company and this is a taxable transaction based on market value.  The tax on the sale can work out to be very favourable, significantly reducing your total tax bill in the long run.  Formalities regarding HMRC, banks, employees, customers, and suppliers must all be dealt with correctly and in a certain format.