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Archive for February, 2017

Personal Liability Notice (PLN) – When can Directors be personally liable?

One of the main reasons people choose to incorporate their business into a limited company (Ltd) is for the extra protection this corporate structure affords the individual.  Incorporation helps separate the individual owner(s) and the business financially, so the business becomes an entity in its own right.

However, Section 64 of the Social Security Administration Act 1998 gives HM Revenue & Customs the power to issue a Personal Liability Notice (PLN) to hold those behind the company personally liable in certain situations.
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