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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am about to set up a limited company. I will be trading

Resolved Question:

Hi. I am about to set up a limited company. I will be trading from home and am planning to use my home address as the registered address, the directors (me) address and then also as my one residential address on the companies house forms. However the number one reason for choosing to set up a limited company is that i want total separation of my company from my personal finances legally. Assuming the worse were to happen and the company went bankrupt, whilst registered to my home address, what could this do to my own personal credit rating or in terms of bailiffs/debt collections etc imposed on the company? Basically I am trying to ascertain if my personal finance and personal credit reputation could be at risk if the company address is the same as my home address? Many thanks
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.
It would only ever be a company debt, it wont affect your credit rating. A bailiff can't take things which dont belong to the company, ie you personally. They would only ever be able to remove company assets.
So no, it makes no difference that its a Ltd Co registered at your address.
Can I clarify anything for you about this today please?
Alex
Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Many thanks thats very clear.