Did you transfer your stock/tools/van to the Ltd Co.?
If not, did/will you have an extra tax bill when you cease trading
as a Sole trader?

That catches a few people out, the IR estimated one of my customers
assets to be £100,000 and sent him a bill for it when he went ltd

A sole trader and the company can elect to transfer tools and other
plant and machinery at their written down value for tax purposes so as
not to trigger balancing charges on them. They can also elect to have
trading stock and work in progress transferred so as to avoid triggering
a tax charge. And there is an "incorporation relief" for capital gains.
But there are other ways of people can get a tax bill they don't expect
on "cessation" so the general point stands.

--
Robin
reply to address is (meant to be) valid