Better Safe than Sorry

It is a commonly held misconception that directors of limited liability companies have a limit on their own liabilities should the company they work for fail. Sadly this couldn’t be further from the truth. A limited liability company limits the liability of the company only and not that of the directors.

All is not lost however, as the extent of your role and your behavior can provide a brick in your personal fire wall. Having said that, your personal wealth is not only exposed on business failure but as a director you have a myriad of Statutory obligations not least of which includes Health & Safety management and a shed load of employment law conditions.

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