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Level 1

Process T4s when business is sold?

2 Comments 2
QuickBooks Team

Process T4s when business is sold?

Hi there,


QuickBooks Online makes it easy to process T4's. To do this, follow the steps below:


  1.     From the left menu, select Taxes, then Payroll Tax.
  2.     Select Annual Forms under the Forms section.
  3.     Select T4 slip (employer).
  4.     Select the tax year you want to view T4 slips for.
  5.     Select View to open and review the slips in Adobe Acrobat.
  6.     Make sure all the information is correct. You can download or print the slips using the icons in Adobe Acrobat, then close the window.             

For more information on T4s check out this helpful article: Prepare T4 slips. Let me know if this answers your question. If not, feel free to ask your question in FULL detail so we can both be on the same page. :) I'll be on standby. 

Level 8

Process T4s when business is sold?

This depends on whether the business was sold and it is now an entirely different entity, or whether the shares were sold and the new owner carries on business under the same company name.  If it is an outright sale, then yes, you have to process T4's for the company who sold.  If the sale was for shares only, you do not have to process T4's as there will be no break in employment for the employees; they will continue to be employed by the same entity.

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