Company Director Services:
As a company director you have a duty of care to the company, its shareholders and employees. You are required at all times to exhibit a reasonable standard of skill, care, honesty and good faith. If you recognize that the company is insolvent or likely to be insolvent in the near future, when considering both current, future and contingent liabilities you should seek advice. The Insolvency Act defines insolvency in one of two ways as follows:
Signs of insolvency may include mounting debts with suppliers, threats of Court action including a statutory demand or a winding up petition being issued, cheques not being honoured by your bankers etc. All these are signs that the company is facing financial difficulties. The sooner you contact us the sooner we can start to help and the more likely we are to devise a suitable strategy for all parties concerned.
We are experienced in all aspects of company insolvency and deal with a variety of procedures, which route to follow will depend on your individual circumstances. Sometimes it may be that your company does not require a formal insolvency procedure to be undertaken it may be a matter of refinancing or restructuring all of which we can help with. If you have any concerns as to the current position of the company or perhaps are preempting possible problems call us for some impartial confidential advice free of charge.
The formal procedures that we deal with are as follows:
If you are a director of a company and you require an exit strategy, maybe you are retiring, starting a new business, require a demerger, then a members voluntary liquidation may be needed. Whatever the reason we will work closely with your tax advisors in order to ensure your exit strategy is achieved to ensure the company’s assets are distributed in the most tax efficient manner, paying as little as 10% tax in some instances. Call us for further information and advice.