Business ownership / legal entity change
Please note: Payouts will be held temporarily while your account is undergoing verification. We will enable payouts on the account once the new details have been verified.
If there has been a change to the ownership of your business (e.g. your company has been bought by another business, your shareholders are changing etc.) please review these questions:
1. Has your business been bought by another business/is ownership of your business changing?
a) If yes, please move to question 2;
b) If no, no need to proceed
2. Is this simply a restructure of shareholders?
a) If yes, please update your UBO section of the dashboard if the shareholders that hold 25% or more of the shares has changed;
b) If not, please move to question 3.
3. Will the entity that holds the GoCardless account be changing to a different entity? (i.e. will payouts be made to a different entity that originally signed up?)
a) If yes, please review the below steps and get in touch via this form;
b) If not, please ensure that all details on your GoCardless account are accurate and up to date and make any necessary changes to your Director and/or UBO info.
My GoCardless account needs to be updated to a new entity
In order to change your company details, we will need to verify the new company details and confirm the previous entity has authorised the change in ownership of the GoCardless account.
Once this additional verification has been completed, we will need to settle funds into a payout bank account held in the name of the new business.
Please copy and paste the information below into an email, fill in your answers, and send it to us via this form with the title “Change of Legal Entity”.
Company currently signed up to GoCardless:
Name: (Current company name)
Business type: (Limited company/Sole trader/Charity)
Company/charity number if applicable: (Current company or charity number)
Company account ownership is changing to:
Name: (New company name)
Business type: (Limited company/Sole trader/Charity)
Company/charity number if applicable: (New company or charity number)
Please state the reason for the change: Please provide as much detail as possible as to why this change is taking place, e.g.
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“We are a limited company, selling our assets to another limited company”
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“I am a sole trader incorporating as a limited company”
Is there a sale of trade/assets taking place? (Y or N)
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If yes, please attach a copy of a proof of sale document to the email.
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If no, we may require documentation of the change (a certified document, written or signed by an external accountant or solicitor that confirms the change of entity on the GoCardless account)
In order to make this change you will need to advise all your current customers using GoCardless that the legal entity they are making payments to is changing:
Please confirm this has been actioned (Y or N)
Please attach a copy of the correspondence to the email (depending on your chosen method of communication, this should be a screenshot of an email sent to your customers or a PDF copy of a letter sent to your customers)
Please provide any additional information you feel would be relevant or important for us to know.
In some cases we may need to request additional information to complete this change, but if this is required we’ll let you know ASAP.
We’ll aim to get back to you as soon as possible. If you have any questions about this process, please reach out to our Support team. Please note that queries regarding the verification of accounts must be dealt with in writing.