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50k government protection

if personal protection for savings is now 50k how does this affect you being a director of a ltd company, do you have a seperate protection on your business?

pippidog Tue 07/10/08 22:41

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moomintroll1
Tue 07/10/08
23:11

Your personal accounts are covered, as you would expect.

Money held in accounts in the name of a limited company are only protected if the company is classed as a "Small" company under the Companies Acts.

These protections are separate, so you would be able to make a claim personally, and the ltd company, if it is eligible, would be able to put in a separate claim.

buildersmate
Wed 08/10/08
21:08

Refer to this question - and Ethel's helpful answer to me.
http://www.theanswerbank.co.uk/Business-and-Fi nance/Personal-Finance/Question636354.html

Prudentia
Wed 08/10/08
21:17

its the elite protecting their own, all the rest of us go down the pan, brown and his deceitful thieving cronies will ultimately burn in hell, unfortunately we the decent people of this land will all be bankrupt by then

pippidog
Thurs 09/10/08
16:30

Question Author

Thanks for your answers, still need a bit more if you can help. If a ltd company as 3 directors are each of them covered for 50k or is it the business itself, which would mean 50k in total?

moomintroll1
Thurs 09/10/08
20:00

Just one lot of £50k. The limited company is a separate legal entity, so it doesn't matter how many directors there are.

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