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Old 04-07-2008, 07:32
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James Smith James Smith is offline
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I don't deal very much in this area but:

1. I think you can as you are not a bankrupt. Do check with CH however. Simply call them they are helpful people.
2. Yes she can be a director. Her tax liability will depend on any payments made to her. Probably zero salary if she works PT but if she has shares (lots of issues here to get right) she would receive her share of any dividend income.
3. No. If this is your only reason for forming you are wasting your time. The bank will credit check the directors in the first instance.
4. Pass.

As ever with forming a limited company, do make sure this is the right decision well BEFORE formation. Ie talk it through with your accountant. There are lots of tax implications and costs. As a rule of thumb you should be making about £25-30k before the extra hassle/cost makes it worthwhile on the tax saving front but circumstances do vary.

Hope that helps

Regards,
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James Smith
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www.jamesesmith.co.uk
01235 536773

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