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  • Shepherd Partnership

Company health check: keeping your business on track

Even the best-run business can face unexpected challenges and solvency issues but the most important thing is to recognise the signs and understand your duties as a director.

The website has recently shared new company health-check guidance and information for directors which covers the tell-tale signs of insolvency, and how managing an insolvent company incorrectly could lead to personal liability, being disqualified as a director, or both.

The guidance includes useful information, including:

  • your duties as a company director

  • test for insolvency

  • cashflow test

  • trading while insolvent and personal liability

  • a factsheet on director's loans

  • effects of being disqualified.

If you have any concerns about your business or would like professional advice, please don't hesitate to speak with a member of our team.

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