If you run a limited company and that company is in financial difficulty or has recently gone into liquidation, as a director of that business, you may be facing disqualification.
This means that you could be prohibited from running a limited company in the future and the benefits of limiting that company’s future liabilities may be lost.
You may also be made personally liable for the insolvent company’s debts.
We represent company directors where the Department of Business Innovation and Skills (“DBIS”) are suggesting that they are not fit and proper people to continue being a director of a limited company resulting in their disqualification.
This results from the way they have run a limited company that has gone into liquidation.
The period of disqualification can be anything from between 2 and 15 years dependant on the seriousness of the allegations.
Once disqualified, any breach of the disqualification can be a criminal offence.
We will review the DBIS evidence; the company’s records and trading practices to be able to challenge the potential disqualification.
As Chartered Accountants, we specialise in helping directors to understand and mitigate any intended action by the authorities.
We understand what the Insolvency Services are looking for to progress a case against you and therefore can help find the best solutions for you and how to achieve them.
It is important for a director facing disqualification problems, to act early and to consider the options and how to deal with them.
Call our Managing Director Lennie Harris, C.A. on 07469-859854 or email him on firstname.lastname@example.org.