Sorry if there is already a thread for this.
A good friend of mine has set up a limited company converting Campervans (huge boom in the industry at the moment). He is only 22 so struggling to get motor trade insurance. He has asked if I would be okay being put down as a director of the company so the policy can be taken out in my name. I work full time so i am currently paying tax by PAYE. I was wondering what the legalities would be? I've been reassured if the company starts to fail my name will come off the directorship. I do regularly visit the shop to lend a hand and have an eye on the books myself. Any help will be appreciated.
T.I.A