durham town revealed as porn hub

[not-bono-ever]

all this depends upon what the directors were part of - if the vehicle they are representing is designed with the purpose of laundering or tax evasion, then you can be held responsible - indeed any kind of laundering is bad vaggum these days and it isn't a defence to say you were bunged a few hundred quid to act as a director. Most company liquidations and striking offs don't always impact the directors and they can often walk away, but they can bite you in the arse and it is wrong to assume that your credit ratings and shit will be not be affected - especially where dividends have been paid from the company top you and you have not declared them to the tax lot in your own country

 

[Sasaferrato]

HMRC don't go for it, but private companies and individuals can now sue directors of failed limited companies:

Can Directors Be Held Liable For Company Debts in a Ltd Company?



It's relatively new, but so many people had been taking the piss for so long that the courts will confiscate personal assets if it can be shown that a director of a failed business acted inappropriately in any manner, which is pretty much a given as the company failed.

Not necessarily, one of the biggest causes of failure of a business is their clients going tits up. Difficult, refuse to extend terms and demand payment, means that that client will never employ them again.

A very frequent reason for unpaid PAYE is that the company is waiting for a client to pay them. It's a difficult decision, do I pull the plug on them, meaning we get nothing, or give them more time, during which the debt increases.

It must also depend on the director's assets, little point in suing someone who is broke. As we both know, getting a judgement against someone is one thing, actually getting the cash is a different matter.

Hopefully the new legislation will also help with 'phoenix' companies, they go bust on Friday, open up on Monday, new name, same directors same premises.

 

[Bahnhof Strasse]

Hopefully the new legislation will also help with 'phoenix' companies, they go bust on Friday, open up on Monday, new name, same directors same premises.

That's kind of what it is aimed at, although sadly a lot of people who do this (my mum's old boss for one*) have no assets; car on finance, rented house etc.

*scumbag drives an AMG Merc, lives in a £3000 a month house and sends his kids to one of the most expensive prep-schools in the country, inside Windsor Castle ffs, yet he just starts business, runs up debts and walks away, time after time, then doesn't pay his rent and after a year finally moves on to the next landlord who's gonna get ripped and starts a new business to fleece a new load of people. Don't know who he can live with the stress, or the guilt of ripping so many people off. From what I know of him he's been doing this for at least 13 years. On the plus side his eldest daughter is 6 months older than mine and we got all her cast-offs when she was little, Gucci, Versace etc...

 

[Sasaferrato]

That's kind of what it is aimed at, although sadly a lot of people who do this (my mum's old boss for one*) have no assets; car on finance, rented house etc.

*scumbag drives an AMG Merc, lives in a £3000 a month house and sends his kids to one of the most expensive prep-schools in the country, inside Windsor Castle ffs, yet he just starts business, runs up debts and walks away, time after time, then doesn't pay his rent and after a year finally moves on to the next landlord who's gonna get ripped and starts a new business to fleece a new load of people. Don't know who he can live with the stress, or the guilt of ripping so many people off. From what I know of him he's been doing this for at least 13 years. On the plus side his eldest daughter is 6 months older than mine and we got all her cast-offs when she was little, Gucci, Versace etc...

He's a sociopath, and genuinely doesn't give a shit.