If I resign as a company director, am I personally liable for its debt?
| 01-12-2023If you resign as a company director, you are not automatically liable for that company’s debts. Directors have limited liability protection.
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What does it mean when a company is a going concern?
| 09-11-2023When a company is operating as ‘going concern’, it indicates that the company can continue trading without the threat of insolvency and is unlikely to enter liquidation in the next financial year.
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What can I do if I can’t afford to repay my company Coronavirus Business Interruption Loan Scheme (CBILS)?
| 21-09-2023A CBILS loan is treated the same as any other unsecured debt, up to the value of £250,000, and are not a liability to the director as the debt belongs to the company.
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VAT charges on taxi fares? High Court siding with Uber could impact taxi companies
| 07-09-2023In February 2021, the Supreme Court ruled that UK-based Uber drivers were workers rather than self-employed, altering the company’s tax obligations.
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Can my company get a Bounce Back Loan (BBL) repayment extension?
| 11-08-2023Bounce Back Loan repayments can be extended if a company is struggling to maintain them. Your company’s lender should offer flexible repayment options.
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Why should you avoid making preference payments when your company is insolvent and facing liquidation?
|Directors should avoid making preference payments, when the company is insolvent, so they can't be found personally liable for company debt or banned as director
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