Re: FN-FORUM help choosing an accountant

date posted 17th January 2002 20:19

On Thu, 17 Jan 2002, Derek Clarke wrote:

> On Thursday 17 Jan 2002 9:31 am, Alex Butcher wrote:
>
> > Well, as I'll be offering services that can (theoretically ;-) go badly
> > wrong (ethical hacking), limited company status is essential for me.
> > Trading as a sole trader is not an option, as it fails to protect my
> > personal assets in the (unlikely, but possible) event of litigation.
>
> If you think a limited company will protect you in all circumstances, then
> I'm afraid that you're badly wrong.
>
> If the company goes bust through actions attributable to you as the sole
> director, there are plenty of legal ways that you can be made personally
> responsible for the company debts.

That's stuff like trading whilst knowingly insolvent and suchlike, isn't it?

Are there any other important gotchas I should be aware of?

Naturally, I'll be getting a professionally written set of T&Cs and the set
of professional indemnity/public liability/employer's liability insurances.
Wouldn't dream of doing it any other way... ;-)

> Also if there is some question of other than fiscal illegality, they will go
> after you rather than the company. Or both.

Sure. The work I'll be doing, I've done before, and will do on a completely
"above-board" basis. I've no criminal record, and _proud_ of it!

Cheers,
Alex.
--
Alex Butcher Brainbench MVP for Internet Security: www.brainbench.com
Berkshire, UK Is *your* company hiring UNIX/Security/Pen. testing folks?
PGP/GnuPG ID:0x271fd950 http://www.cocoa.demon.co.uk/cv/