Can i value a non Ltd building company for divorce asset purposes?

[whycantitbecalm]

Asking for a friend: So the assets held are the house and business,
which has been their main income for 20+ years which her husband has run and my friend has had a small part time job to work around the kids.

They are just at the stage of sorting finances out stage and the only real assets are the house and very successful business. I was under the impression that if the business wasn’t a limited company it had no value? Is this right or should we be getting it valued?

How is the business owned? By the husband as a sole trader or ??

This is not correct.

businesses that are not limited companies absolutely have a value and can be valued.

you’d need to get a professional in to do it.

Yes, but it will be very tricky to get a valuation, as it sounds people dependent, not asset based. So if the ex walks away and sets up a new business what is left? Could your friend run the business, or is it just his skills/contacts and the company was only set up that way for tax purposes?

I sold my partnership accountancy practice. Yes, they can have value especially if successful.

They can have a value
but really depends what sort of business it is - ie if he IS the business then that can. Much harder

Yes its as a sole trader, he is the owner and has a team who work for him doing the building work