self employed

[Spent2much]

Does BR effect self employed working in sales ?

[IF]

Re: self employed

If I go bankrupt will it affect my employment?
You may not act as the director of a company or take part in its promotion, formation or management unless you get the court's permission to do so. You can apply to the court for permission but must tell the official receiver if you intend to do so.
You may be self employed or trade in partnership. If you carry on any business in a name that is not the name in which you were made bankrupt, you must tell everyone you do business with the name in which you were made bankrupt.
You may not act as an insolvency practitioner, or as the receiver or manager of the property of a company on behalf of debenture holders.
There are instances in legislation, regulations, bye-laws and private club rules of restrictions which refer to someone being a ‘fit and proper person’ which may disqualify an undischarged bankrupt. You would need to check if any of these affect you.
Further information about restrictions on bankrupts can be found by going to the following link:
Restrictions on Bankrupts Technical Manual Chapter25

IF...x

[Spent2much]

Re: self employed

Thankyou , was just enquiring so we know what all the options are , we are going down the UE route right now , just started so we shall see what happens

[IF]

Re: self employed

That's OK, best to do your homework first. Do check all the links on here:-

~ Look here first - Bankruptcy Help ~ - allaboutFORUMS

A few more links may help too:-

Bankruptcy NDL Guide

Basic Bankruptcy Advice & Guide NED CAB

[vossy]

Re: self employed

In short I would say no, even reading all the guides, if you work it right and speak to the right people you will have no problems at all if you are self employed. I have a friend who went BR, he was SE and he did manage to keep his house, he still does exactly what he did before and he now has a lot less stress. Not easy to start with but you will get through it.

Good luck

[Spent2much]

Re: self employed

In short I would say no, even reading all the guides, if you work it right and speak to the right people you will have no problems at all if you are self employed. I have a friend who went BR, he was SE and he did manage to keep his house, he still does exactly what he did before and he now has a lot less stress. Not easy to start with but you will get through it.

Good luck

thanks, its a last resort really at the moment we are going down the UE route i like to look at all options, hopefully it won't come to that

[fatandskint]

Re: self employed

You can stay self employed and go bankrupt

You can't be a director of a company and can not be involved in the day to day running of a limited company either

You CAN be a sole trader. HMRC will give you a new UTR and you start afresh from the beginning of the tax year following bankruptcy.

[Spent2much]

Re: self employed

You can stay self employed and go bankrupt

You can't be a director of a company and can not be involved in the day to day running of a limited company either

You CAN be asole trader. HMRC will give you a new UTR and you start afresh from the beginning of the tax year following bankruptcy.

thank you , we are trying the UE route first see what happens we like to know what our options are good information though