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Am i be liable after resigning the company from director as well as secretary post.

4 years ago - Posted by

We two guys open up a ltd company in 2012 with very few case in bank. than that company run by one agent and accountact. now just few days before i check the account submitted for 2013 than suddenly there is big figures running in account. certainly i did not do anything in this company. i just be a director and secretary of this company to get my entrepreneur visa, which i already got. but still i am director and secretary. that agent and accountant use my name to sign the balance sheet and tax returns to submit in HMRC and companies house, which even i dont know so its impossible to sign.
Now if i resign from both post. will i be liable if this agent and accountant has done fraud in company. there is one more director as well.

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2 Answers

TAD Member

4 years ago

As this is a limited company you would not be personally liable for any company debts, unless you made a personal guarantee to a creditor. If you think that fraud has occurred in your company but you were not involved or aware of this then you should not be held responsible, but you should report it. I would suggest you contact ‘Business Debtline’ on 0800 197 6026 for further free advice.

This question has been answered by CAP UK, a leading debt charity offering hope and a solution to anyone in debt.

TAD Member

4 years ago

This is not really a question for a debt adviser, you may be better off seeking legal advice rather than debt advice. A debt adviser may be able to help you if you do find that you are liable for any debts arising from the failure of the Limited Company in the future.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you need further help, Debt Advice Foundation provides a free, confidential helpline and can advise you. Click here to find out more.

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