Limited company personal liability

[holmslaw]

I have my own limited company working in the building services industry and I am the only employee.

I was recently employed by a large engineering consultancy. However the person in charge had very little experience (was also a lying b******) but persisted in telling me how to proceed - his approach was always wrong!

So ,I saw myself with two choices, either, do it his way and watch it all go wrong. But then he would deny any invovement and blame me and his company would believe/back him.

Or, walk out - thats what I did!

The consequences losses due to mistakes in this field could be in tens of millions - if not more.

My question is, even though I work for my limited company - are there any circumstances where I could be found personally liable and up losing everything.

 

[Softus]

My question is, even though I work for my limited company - are there any circumstances where I could be found personally liable and up losing everything.

If you meet your legal obligations in the role of Director, then personally you are not liable. If you don't, then don't be surprised at what happens.

 

[holmslaw]

Thanks for that, I am all legal etc.

But what if someone claimed and proved that I had acted irresponsibily or incompetently. There must be some situations where you cannot hide behind the limited company.

 

[Shytalkz]

You carried out the work for the company. The company is therefore liable and a claim would be made on its insurances; if the claim goes over the limit of insurer's liability and there are no assets to cover the remainder, the company goes bust. End of liability; that's why it's a limited company, as it has limited liability. The only fly in the ointment is this corporate manslaughter stuff, not sure how that would work.