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 gov.uk 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
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.