Change of legal entity
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.
A change of legal entity would include:
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The business dissolving or ceasing to trade
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The business changing from one entity to another (e.g. from an individual/sole trader to a limited company)
If there has been a change to the legal entity of your business, we will need to go through an additional verification process.
If your business is changing or has been sold, please get in touch with us as soon as possible.
In order to change your company details, we need to conduct an additional verification process, which includes verifying the new business.
Once this 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.