I am currently a director in a limited company with a fellow director. We have been going through a bad patch for some time now and have personnel guarantees to the value of £105K. We have just had a petition to wind up the company presented to us. Before we received this notice we had decided to go through a prepack administration which i understand is no longer an option. I also have a personnal debt on credit cards and loans of £22K and can no longer pay the repayments. If we had gone the adminisration route i would have stayed a director of the new company and handed my shares over to my partner once the PG''s had been settled. I have started up a sole trading business for the future and have a bank account set up. My wife also works for the limited company so we have no income coming into the house. My question is can my wife set up a sole trading company that i can work for if so can the OR take into account what she may earn from the business.
presuming your wife will not be declaring bankruptcy she can incorporate a new limited company or begin a sole trading company, either way she is perfectly at liberty to employ you and you are at liberty to work for her.
I'm sure you are aware that your PG's and the winding up of the company are issue's that need care and a gameplan.
I am currently a director in a limited company wit
Posted - 24 February 2009 : 21:24:38
