company director options in pia

G

greywall

Registered User
Messages
1
Hi
Can company director on salary avail of a PIA , and does it have any implications for the company ? or the director?
i.e company overdraft or lease etc. its a small start up with 3 employed.
 
You can’t go bankrupt while a company director. But can enter a PIA. Your shares of company may well be included as an asset when determining how much you pay your creditors.
Wound have no impact on company itself though to my knowledge.
 
Yes, you can do a PIA whilst a company director (provided you are not subject to strict "fitness & probity" rules etc)

One disadvantage of being a company director is some "company search" web sites may flag the director as going through a PIA which might affect creditors' confidence in the company.

Jim Stafford
 
You must log in or register to reply here.
Back
Top