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Scottish Trust Deed Forum
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Topic starter
29/07/2012 12:07 pm
Hi everyone,
My husband and I completed the 36 months of our PTD earlier this year and have now been discharged (Yippee!)
I can honestly say that it was the best thing for us and, for everyone starting out on a PTD, stay strong, use all the great advice on here and it will pass quicker than you think.
I would now like to start my own business and have been advised that forming a Private Limited Company is the most tax-efficient route.
Can I, having been discharged from my PTD, form a Private Limited Company and serve as sole director.
There seems to be conflicting advice although a common theme seems to be that the articles of association would have to specifically allow this.
Surely that shouldn't be a problem since I would be writing the articles for the new company??!!
Any advice would be greatly appreciated.
29/07/2012 12:17 pm
Who advised you regarding the PLC being the most tax efficient route?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
29/07/2012 12:49 pm
Hi Bouncingback
As you are both discharged, there would be no issue with you forming a Ltd company.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
29/07/2012 5:25 pm
There might be some confusion with terminology here.
Becoming a "PLC" (in the usual sense it is used) would involve quite a lot, including several hundred thousand pounds and some City contacts!
As Mark has said, there is no issue with forming a normal limited company.
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