Now I never thought I’d be writing this… My friend is a sole director of his limited company and is currently on remand in prison pending a court case. It’s possible he might not get out.
I certainly don’t want to take on responsibility of being a director but he asked me if I could monitor his Tide account and check that payments due were being received and outgoings were going as expected.
He told me what details to use for the account but installed on a new device needs new activation again. The problem is the selfie requirement as phones aren’t allowed in jail.
So if he doesn’t get out what’s the best approach? Will Tide accept a signed document giving me authority to maintain the account (so bypassing the selfie requirement) until his sentence is over? The last thing he would want is to be released and have to deal with missed payments to HMRC, etc plus damage to his credit rating with missed payments on the company card. A typical sentence for the crime committed is three months so he is hoping it won’t kill the business.
If Tide can’t come to a solution would an alternative be to use a regular business bank? You can do a lot more with an old fashioned bank including using paper if he needs to authorise anything. If that is in place would you then be able to transfer the money to the new bank with written authority?