I am employed by the directors running a building development Private Ltd company and a Public House Private Ltd company. The building development company was originally the company running a large Public House company before a name change. The original large Public House company went into liquidation after paying for assets of the building development company and the building development company owes the original large Public House company in excess of £500,000. I was originally employed as a book-keeper at £8.00 per hour but on the insistance of the director I was to bill the companies either through my limited company or in a self employed position to avoid them having to pay employment taxes on me. I eventually chose to do it through my limited company as it has large losses brought forward. It has now come to the attention of the insolvency practitioners that the building development company have done work on assets bought by the original large Public House company and then sold the assets to pay off bank loans and money owing to the director/shareholders of the building development company, one asset being sold at a loss of £145,000 to the building development company. Even though I was only the book-keeper the directors also asked me to finish off the accounts started by another accountant. Any thoughts or ideas would be appreciated. My thoughts were to resign as book-keeper but should I also strike off my limited company?
19th Aug 2010 23:57