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Limited Company

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Venom
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2007/06/07 23:38:34 (permalink)
USA DEALS

Limited Company

I'm currently a partner in a limited company, trouble is my 'partner' has decided to go and live in America

I'm under the impression you need at least 2 people to form a limited company, my mate said he's happy to keep his name in the business (obviously taking no wage) but I don't like it, I have these nightmares that in 3 or 4 years when I've carried the whole company on my back he'll come back and demand half the profit ?

How could I get rid of him and keep my limited status ?
#1

15 Replies Related Threads

    USA DEALS
    The Kid
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    RE: Limited Company 2007/06/07 23:51:33 (permalink)
    Contact Companies House in Cardiff and have him taken off the records of your business.
    Then install a token 2nd person in your business. Sister, mum dad etc

    Regards
    Martin
    #2
    bertie
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    RE: Limited Company 2007/06/07 23:52:41 (permalink)
    Yeah, I use my missis as secretary ion out companies. It's a simple notice of change
    #3
    Dick Dastardly
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    RE: Limited Company 2007/06/07 23:57:39 (permalink)
    as above mate with companies house, either that or hammer out a legal agreement about how much cash if any he will recieve

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    #4
    sillynarbie
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    RE: Limited Company 2007/06/08 00:15:48 (permalink)
    Firstly, partners are owners of a partnership, your friend/business partner is either a shareholder or a director or both.

    If he has shares, its a simple case of buying those shares off him, if hes a director, then if hes willing to step down as a director then there won't be any problems. It also depends on how much share capital you own and other such things. You don't need 2 people start/maintain a limited company. Contact your accountant and it'll be sorted pretty swiftly.
    #5
    twint
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    RE: Limited Company 2007/06/08 01:17:44 (permalink)
    You dont need 2 for a Ltd. Company ? I work for one and theres only 1 guvnor.

    Are you in a partnership?
    #6
    TheDoctor
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    RE: Limited Company 2007/06/08 01:20:50 (permalink)

    ORIGINAL: twint

    You dont need 2 for a Ltd. Company ? .



    You need 2 people minimum.

    1 director
    1 secretary
    #7
    JohnOvManchester
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    RE: Limited Company 2007/06/08 02:47:52 (permalink)

    ORIGINAL: TheDoctor


    ORIGINAL: twint

    You dont need 2 for a Ltd. Company ? .



    You need 2 people minimum.

    1 director
    1 secretary


    This is true, it's the law.
    #8
    sillynarbie
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    RE: Limited Company 2007/06/08 02:51:40 (permalink)
    ORIGINAL: TheDoctor


    ORIGINAL: twint

    You dont need 2 for a Ltd. Company ? .



    You need 2 people minimum.

    1 director
    1 secretary



    seems you do actually need 2 people, however you don't need 2 directors/shareholders, which is the problem the OP faces.
    post edited by sillynarbie - 2007/06/08 02:55:26
    #9
    bertie
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    RE: Limited Company 2007/06/08 09:07:38 (permalink)
    Doc is right, you gotta have two (although there is talk of this changing in the near future). All of mine bar one have their shares owned by another company though, no need for a person to hold them.
    #10
    sillynarbie
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    RE: Limited Company 2007/06/08 09:34:33 (permalink)
    As I just said, you need two people, but not two shareholders.
    #11
    Cardifflad
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    RE: Limited Company 2007/06/08 09:42:13 (permalink)
    Contact us lovely people at Companies House on 0870 3333 636 for some more info mate
    #12
    Red Man
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    RE: Limited Company 2007/06/08 10:11:23 (permalink)
    I had my ex girlfriend down as comapny secretary (now changed to my bro), it means absolutely nothing at all other than she had to sign a piece of paper, i think a lot of people use their accountant....

    "You're not drunk if you can lie on the floor without holding on." Dean Martin

    #13
    Cardifflad
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    RE: Limited Company 2007/06/08 10:15:45 (permalink)

    ORIGINAL: Red Man

    I had my ex girlfriend down as comapny secretary (now changed to my bro), it means absolutely nothing at all other than she had to sign a piece of paper, i think a lot of people use their accountant....


    True mate. We never prosecute secs only directors (even though in very exeptional circumstances it has been known).
    #14
    The Guvnor
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    RE: Limited Company 2007/06/08 10:35:14 (permalink)
    I believe you can have a single directorship company in the UK. The sole director cannot however also be the secretary.

    In Ireland you need two directors but one can also be the secretary.
    post edited by The Guvnor - 2007/06/08 10:39:34
    #15
    Cardifflad
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    RE: Limited Company 2007/06/08 10:38:36 (permalink)

    ORIGINAL: The Guvnor

    I believe you can have a single directorship company in the UK. The sole director can also be the secretary.



    Not a Ltd company mate. You can't be the sole director and secretary. If you want to be a director and secretary then you need at least one other director.
    #16
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