This week for our legal Q&A with law firm Sills & Betteridge, your questions are answered by Commercial Partner at the Lincoln office, James Conduit.
- I am the sole shareholder and director of my own limited company and I have no employees. I have heard that there is no help from the government for people like me. Is that right?
- Can the owner/manager furlough themselves?
- You say “cannot be done through the company”, does that mean they could do it outside of the company.
- Is there nothing that owner/manager companies can do to get help?
- I am worried about the financial position of the company, can I be personally liable at all?
- So what are the potential liabilities to creditors?
- Regarding liabilities to the company, how might they be enforced in the case of an owner/director?
- What are the potential liabilities that they might pursue?
- If someone finds themselves in this position, what should they do?
- The third category you mentioned was regulatory liabilities. Can you give some examples?
- Any final thoughts?