advice required on Limited Company PLEASE

szelka Registered Posts: 3 New contributor 🐸
Hi there

There came opportunity to my boyfriend to join a limited company running by his friend. Both of them would be directors then.
A company exist around 6 month.
Until now that was a company in building industry (interiors).
And now they going to do some trading.

I am just wondering what would be the best to do from tax and accounts point of view...
and having responsibilities to HMRC and Companies House...

My boyfriend just simply does not want to take responsibility for anything what his friend did under his company until now...

1. Would be better just to close the company and to open new one.
2. To do the business under the existing one - and just to write down in their agreement that my boyfriend`s responsibility for business activity runs since the day he joined the company... ?

Obviously there will be some Capitals and Assets - whatever the friend has got already within a company and whatever my boyfriend will contribute.
I understand that detailed records (list) of those should be written down in their agreement - am I correct?

I want to do everything in my power to support them. However I study AAT foundation level, I do not know much at this stage about LTD aspect. So i just apply to you - most experienced members of that forum - for some help.

I really appreciate any help.
Many thanks in advance.

Szelka ;)
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