Setting up a Ltd Company

Itsallgonepearshaped

Hi,

I was made bankrupt in 2009 and dicharged in 2010 but I do have a BRU which runs until 2015. I have been offered a contract role with a company who know about the BR but they want me to invoice them through a limited company. I know I have to trade in my own name but I also believe there are restrictions on being a company director. Is it ok to set up a ltd company as eg "My name consultancy Ltd" with a BRU? The business is going to be providing consultancy services so there are no set up costs and no need for any credit of any kind ..

Thanks

Flyright

No, the BRU extends the restrictions of your bankruptcy. You cannot be a company director or be involved in the management of a company.

Itsallgonepearshaped

Flyright wrote: »

No, the BRU extends the restrictions of your bankruptcy. You cannot be a company director or be involved in the management of a company.

Thanks for that - that's a bit of a problem. Could I get round it by setting up a company where e.g my partner is the director / sole shareholder of the company and I'm an employee?

Flyright

Not in your specific situation as the limited company is clearly a vehicle for you to get paid and needs no other personnel. You cannot simply put someone in as a 'stooge' director when the company is effectively you. Doing that is dangerous as it is a breach of your BRU and potentially gets the other person in trouble too.