How much money are guarantors responsible for?

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I am planning to set up a limited by guarantee company, and will most likely end up listing myself as one of the, if not sole, guarantors. Can anyone please tell me how much money I am supposed to put up in the event the company fails?

Answers

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You can guarantee as much as you like to the company, but most people just guarantee a nominal sum of £1 per guarantor. You have to pay this sum to the company if it becomes insolvent or it is wound up.

a year ago
 

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