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Limited companies
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I have been asked by a friend who has his own one-man electrical business if I will become a partner/director, in name only, so that he can become a limited company. I would only provide the title of director and provide a home address because he does not yet have an address of his own since splitting up with his fiancee.
What are the dangers and pitfalls if I choose to go ahead with this plan?
What are the dangers and pitfalls if I choose to go ahead with this plan?
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.It's not a particularly unusual arrangement. I used to run a limited company, with my father as a (purely nominal) director and using his address as the registered address of the company.
However, you'd be wise to read through this before agreeing to the arrangement:
http://www.businesslink.gov.uk/bdotg/action/la yer?topicId=1073870537
Chris
However, you'd be wise to read through this before agreeing to the arrangement:
http://www.businesslink.gov.uk/bdotg/action/la yer?topicId=1073870537
Chris