Director Advice
My business is suffering due to depression/ill health
If the stresses and strains of running a successful company have taken their toll on your physical or mental health, it might be time to step back.
Find a local insolvency practitioner for your company
Finding a local insolvency practitioner you can trust is of paramount importance when you believe your company could be heading towards insolvency. If your company is showing signs of becoming insolvent – or perhaps it already is insolvent – a licensed insolvency practitioner will be able to help you understand your position, explore your options for recovery or closure, and explain what each course of action will mean for your company, your clients, and yourself.
Joint and Several Liability Notices: Directors of insolvent companies face greater personal exposure to tax liabilities
While company directors are generally protected by limited liability, recovery powers granted to HMRC in the Finance Act 2020 mean directors can face greater personal liability for tax debts held by the company in the event of insolvency.
The Rating and Director Disqualification Bill
New legislation may mean former company directors can be retrospectively issued with a disqualification order if they misuse the dissolution process.
Is a company director entitled to redundancy pay if their company is insolvent?
It isn’t common knowledge but directors may have a claim for redundancy when their company enters liquidation. They must be able to prove their status as an employee of the company, and fulfil more than an advisory or non-executive role.
Top 10 Tips for Dealing with Company Cash Flow Problems
Experiencing business cash flow problems? You will want to to redress the position. We list the Top 10 Tips for Dealing with Company Cash Flow Problems.
Managing business cash flow and profitability
Making sure that you have a realistic cash flow in place together with project management analysis is the only way to ensure you can add the appropriate mark-up and margins to the overall costings of the project so that it will be profitable for you.
What is director disqualification?
A director’s disqualification order bans you from acting as a company director due to unfit conduct, but you are able to work as a company employee.
Who is Liable for my Accountant's Mistakes?
Hiring an accountant to complete your company accounts and tax returns not only frees up time, it negates the need to employ high-level finance staff in-house.
Director disputes – when one wants to liquidate and one doesn’t – what next?
If you are in serious dispute with a co-director – maybe you have strongly disagreed on a matter of business, for example, or are a divorcing couple - you may want to liquidate the company and move on.
What are directors' duties and consequences of breach?
The Companies Act, 2006, sets out the general duties of company directors in the UK. If you breach these duties the consequences can be severe, with the company, its creditors, or shareholders having the right to pursue you on a personal level for any losses they have suffered.
What is misfeasance and what happens if I am found guilty?
Under the Companies Act, 2006, directors can be held personally liable for losses caused to creditors where ’misfeasance’ has occurred.
Can I be a director of multiple companies even if one is in liquidation?
Under company law you can be a director of multiple enterprises, regardless of whether one company is in liquidation.
