Ltd Company - really an option?

[whyme]

After reading the various threads here, I've been convinced moving from my Umbrella to a Ltd Co is the best move. Only problem is (cue the violins), I don't have immediate family or other half to sign up as the company secretary.

I really don't want to involve girlfriend/friends in my business affairs for obvious reasons, so does anyone know of a way I could get a third party to sign off as the secretary, but have no direct involvement in the business account, and cannot touch the cash

I'd rather not be with the Umbrella for much longer, but I can't see an option to become Ltd as things stand

[DaveB]

Most accountants will do it for you for a fee. SJD certainly will, I think they charge £90 a year

[ASB]

Check on the DTI website. There are some changes in the pieline (this year I think) which will enable a company to only have one officer rather than the current 2.

[malvolio]

Hurrah, another convert. Well done.

Use your accountant as a Co Sec or a family member perhaps. If they don't have shares and you don't give their signature to your business bank, they can't do anything to the money anyway.

And as ASBo says, it's coming down to one officer from next year.

[Denny]

Get your cat to stick a muddy paw on the Company Secretary dotted line.

That should do it.

[ASB]

Get your cat to stick a muddy paw on the Company Secretary dotted line.

That should do it.

Years ago a friend of mine appointed "Rex Labrador" as his co sec (and registered his car to him). This ploy was entirely sucessful until some piece of officialdom required the presence of the co sec. They were a little on the unimpressed side...

[VectraMan]

The one officer thing sounds good. Having to involve two people seemed a bit olde fashioned to me.

My Company Secretary is the formation agent I used, as like you I believe in keeping business relationships seperate from personal relationships. The only snag was that I had to write a letter to the bank on company headed paper (which I made up in 30 seconds in Word) to say that XYZ Ltd. were only acting in an administrative capacity and had no rights on the account or say in the business. Don't know why that was, but the bank insisted on it before they'd open the account.

[whyme]

Thanks everyone for the info - that's taken a problem out of the equation.

I'll be doing some more digging this weekend, as the contract expires at the end of the month

[Mustang]

Logistics

Agree with previous comments. One additional snippet: there will be forms for Co Secretary to sign from time to time - especially around divis. Make sure the logistics are easy enough to avoid them causing a delay in signing.