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But if that is the case you will be involving your friends in your business which isn't a good idea and having someone related that isn't your spouse which is also a bad idea so both only options if absolutely everything else fails imo.
I think having a spouse involved is the worst idea, I have heard of lots of spouse taking money, getting divorced etc etc Never heard of someone's mum doing that.
I know bankruptee's cannot be directors, and IVA is not a bankrupt. quick look on google confirms that he can start his own company.
Though one has to wonder, can someone who cannot manage their money be able to keep money to one side for VAT, Corp Tax and so on.