Limit companies don't protect your home and family like they used to. Everything now is done with a directors guarantee. So they spin it right back around to the owner of the company which debt or whatever (even with HMRC) is guaranteed against the directors personal assets.
That's why dodgy firms who we see mentioned a lot on sparky forum have it youngest nephew as the director who's got no assets and the guy making the profit out of dodgy sales practices keeps his Bentley when they fold the company 18 months down the line, write off the debt, and form a new company with the same contracts using a new younger nephew.
If you're a genuine bloke doing it right, you're not protected any more than a self employed bloke is when you go Ltd.
I'd sit down with the person in charge where you're at and explain your gripes. Then consider other employers. As going from employer to employee isn't a case of just ordering a ltd company name from a website for a fiver.
How did you get on with this.
That's why dodgy firms who we see mentioned a lot on sparky forum have it youngest nephew as the director who's got no assets and the guy making the profit out of dodgy sales practices keeps his Bentley when they fold the company 18 months down the line, write off the debt, and form a new company with the same contracts using a new younger nephew.
If you're a genuine bloke doing it right, you're not protected any more than a self employed bloke is when you go Ltd.
I'd sit down with the person in charge where you're at and explain your gripes. Then consider other employers. As going from employer to employee isn't a case of just ordering a ltd company name from a website for a fiver.
How did you get on with this.
