Leaving a LTD Company – Liabilities?

I am director of a UK-based LTD company. There are three directors with 1 share each.

I want to leave the business as I am planning on moving to the other side of the country and going back to University. We are all still amicable and isn't any bad blood, at least not so far.

I am unsure about the process of me leaving the company and what (if anything) would I be liable for.

The business has an overdraft for which we (the three directors) are liable for. The other two partners took out separate personal loans in order for the business to move into its first commercial property; I did not.

Can anybody shed any light before I move onto the next step?

Thank you.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s