Ltd Co or Self Employed

[Dishmop]

The directors can still be sued or charged independantly of the seperate entity that they are the directors of, and banned from holding other directorships.

I dont for one moment think that you are only liable for a limited amount in the case of injuries caused....
.
The limited liability is if you should go bankrupt and then you are only liable to your debtors for the amount you invested when you registered the company.. unless you are proven to have been dishonest....

 

[Dishmop]

you get Public liability insurance as part of your BBKA membership.

no need for expense of setting up a company just for that aspect of beekeeping.

You MIGHT find that you have PLO with your household policy......

 

[Hivemaker.]

I think that it goes deeper than the insurance issue, it's about trying to distance yourself as an individual from potential lawsuits. If it works out that way or not may be another matter altogether.


Just out of interest......have there been many of lawsuits against beekeepers....and if so, what for exactly.

 

[rolande]

Hi,

it's about trying to distance yourself as an individual from potential lawsuits. If it works out that way or not may be another matter altogether.

The directors can still be sued or charged independantly of the seperate entity that they are the directors of, and banned from holding other directorships.

I dont for one moment think that you are only liable for a limited amount in the case of injuries caused....
.
The limited liability is if you should go bankrupt and then you are only liable to your debtors for the amount you invested when you registered the company.. unless you are proven to have been dishonest....

Quite. Although 'The World of a Beefarmer' by John Rawson does cover this very issue -don't have a copy to hand but it's a great book well worth reding.

Best,
Roland

 

[Black Comb]

One of the main reasons for a limited company is to limit your personal losses should you go into liquidation. Normally you would take this step when you had a reasonable amount of creditors. Normal beeks will have to pay cash or credit card when they buy goods so I don't see the point at the usual level of turnover.

Other posts have covered tax and VAT but the cost of submitting returns every year to companies house via an accountant does add up.

Ref. health & safety - if something serious happens they'll have you whether or not you are limited so can't see the point.

 

[drstitson]

"Ref. health & safety - if something serious happens they'll have you whether or not you are limited so can't see the point."

as a director of a company you can still be jailed for corporate manslaughter.

 

[BBG]

Thanks to all for the advice and opinions. Much to consider.

 

[Dishmop]

Thanks to all for the advice and opinions. Much to consider.

Are you any the wiser or just even more undecided?