Alternative to a Limited Company

[Resurgam]

Is there a way in which I can protect my liability in a business without forming a Limited Company ?

I realise that Limited Companies exist for the very purpose of limiting an individual’s liability. I live in Council Sheltered Accommodation and the rules don’t allow me to register the address as a Limited Company nor for a business bank account. If it was an ordinary council flat it would be different, but this is Sheltered Accommodation. I’ve thought about using a Post Box address but the Bank wants an actual residential address.

I have an idea for a consumer product to fill a market gap. Bitter experience of a buy-to-let business going bankrupt has made me hyper sensitive to the need to limit and protect one’s own liability.

Grateful for any advice. Thank you.

 

[Scalloway]

If you want to set up a limited company you will need an accountant. The accountant may be willing to let you use their address for the company.

 

[Paul Kelly ICHYB]

Use a virtual office address for all correspondence.

 

[Resurgam]

If you want to set up a limited company you will need an accountant. The accountant may be willing to let you use their address for the company.

Thank you Scalloway, I'll look into that.

 

[Resurgam]

Use a virtual office address for all correspondence.

I could do that, thank you.

 

[WaveJumper]

Wasn't aware you "had to have" an accountant if you wanted to set up and run a ltd company, obviously if you don't understand what you're doing (we see many threads where people get themselves into a real mess) so its a pretty good idea to get yourself set up and knowledgable on what you can and can't claim for. It sounds like your biggest headache is getting the bank account set up, have you tried some of the online banking services out there, are they as "fussy" over accommodation status etc