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A private restricted company should have at least one director and they can also be a shareholder. If an individual has been disqualified from performing as a limited firm director, are an undischarged bankrupt or are less than sixteen years previous they cannot assume this position. Administrators of restricted firms are accountable for notifying Firms House of any changes to the structure and management of the company. Firm administrators are also staff of the corporate and should pay earnings tax and Class 1 National Insurance contributions.
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