Does placing my company into liquidation mean I can no longer be a director?
Liquidating your company does not prevent you from being a director of a limited company. You are allowed to be a director of as many companies as you like, there is no limit, except as follows:
- If you are bankrupt, you cannot be a director of a limited company whilst you are bankrupt, or bankruptcy restrictions are in place.
- If you have been disqualified from acting as a Director.
- You cannot be a director of a company with the same or similar name within 5 years of liquidating. However, there are exceptions to this rule, which we can advise you on. Most directors who choose to start the same or similar business again (known as a Phoenix) often chose to use a new name.
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