Go limited?

[Neil]

Does anyone think that going Limited as a company is a good idea?

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[Smurf]

Depends if you plan to do alot of commercial work I suppose and being vat registered aswell or you just want to take the risk out of going bankrupt like so many do.

 

[cheapncheerful]

shouldnt be allowed ...bar stewards ....run up loadsa debt and then just change the name and start a fresh.......my mate had four different companies in eight years...and one company bought the stock of another at knockdown price....er...he came crawling back with nowt in the end....

my double glazing was nicely guaranteed for ten years....two years in i tried to claim...they had gone from coldseal to warmseal....tough titties for my claim...

 

[Smurf]

Yep that what happens time & time again and there is nothing ppl that are owed money can do about it either.

 

[Neil]

Yeah true there CNC , was just enquiring about it as a few of my mates are and they said it's a good thing to do .

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[windowsurfer]

If your limited, and the business goes into debt, you dont lose your house, you just lose your business. Thats my take on it, but dont really know. Was told by someone, that businesses like the idea that they are dealing with a business " limited" and not a sole trader " one man and a van", so I was told. Im in a council house, so I think I'm ok, if anything drastic happens business wise. You do need a roof over your head.

 

[cheapncheerful]

dont know who is better as you can get a nice fancy car and great kit and if you overspend you just go bust....and start again..my mate had a nice land rover....merc...etc...came back on a moped oops...some you win....