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Post Info TOPIC: Directors and sole traders


Veteran Member

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Directors and sole traders


Hi I was just wondering, I have a client who is a director of a company drawing a salary, however he wants to leave but will possibly remain a director, if he wanted to he can set up a sole trader business or even a ltd company couldn't he, whilst still being a director of the original company

Many thanks

Nicola



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Expert

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Hi Nicola

Yes, absolutely no reason why he shouldn't. He can be a Director of as many Ltds as he wants, and also be a sole trader, as long as his sole trader business isn't supplying to a Ltd Co he is director of.



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John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Veteran Member

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Hi John, Thank-you very much. I thought it was something like that but wanted to double check. Thank-you again.
Nicola

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Master Book-keeper

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You say he wants to leave, but then he wants to stay. Is he just a director or a shareholder as well. Only being nosey!

As John says. Assuming there are no artificial separation shenanigans going on!

__________________

Joanne McCormick

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

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