◆ COMPANY DIRECTORS
Insolvency and recovery advice for company directors
Get a clearer view of your responsibilities and the decisions that need attention when a company is under financial pressure.
◆ UNDERSTANDING YOUR POSITION
Know when the position has changed
Warning signs include repeated missed payments, rising tax arrears, suppliers withdrawing credit and reliance on new borrowing to meet old commitments. Record when these issues emerged and what action the board has considered.
Bring current accounts, bank records and the dates when payment difficulties emerged. Identify board decisions, creditor notices and personal concerns that require separate attention.
◆ PRESSURE POINTS
Where pressure
needs a closer look
Bring these issues into the first financial review. The right starting point depends on the structure and the full position.
Protect the information needed for decisions
Maintain accounts, preserve bank records and keep minutes of significant decisions. Directors need an accurate view of assets, creditors and cash flow. If insolvency is a concern, take advice before paying connected parties, transferring assets or accepting money for work the company may be unable to fulfil.
Address personal concerns separately
A director’s loan account, personal guarantee or concern about past conduct needs individual attention. Do not assume that company closure automatically ends every obligation. We help organise the issues so the right professional advice can be sought and the business options can be assessed.
◆ PRACTICAL SUPPORT
Options to explore,
not a predetermined answer.
Bring current accounts, bank records and the dates when payment difficulties emerged. Identify board decisions, creditor notices and personal concerns that require separate attention.
View all services →HMRC Time to Pay
Review whether the company can support a credible recovery plan.
HMRC Tax Arrears
Assess overdue tax alongside the board’s forecast of new liabilities and operating costs.
Company Rescue & Restructuring
Reconcile tax demands and highlight enforcement correspondence for the initial review.
Winding-Up Petition Advice
Provide the petition and hearing details so the company’s urgent timetable is visible.
◆ YOUR FIRST CONVERSATION
A starting point for company directors
List creditor deadlines and commitments the board is being asked to approve.
Bring the forecast, accounts and notes behind recent actions.
Flag guarantees, loan accounts and other concerns needing individual assessment.
◆ FURTHER READING
Useful starting points
Tax arrears: a starting point for company directors ↗Repayment planning for company directors ↗Further guidance for company directors ↗Bring current accounts, bank records and the dates when payment difficulties emerged. Identify board decisions, creditor notices and personal concerns that require separate attention.
◆ CONFIDENTIAL BUSINESS ADVICE
Get a clearer view of the decisions ahead.
Tell us what the board is facing and which deadlines are approaching. Include any personal concerns that should be considered separately.
✓ Confidential first conversation
✓ Free and without obligation
✓ By telephone or video
◆ FREQUENTLY ASKED QUESTIONS
Questions, answered plainly.
What should I bring about recent board decisions?
Bring minutes or notes showing the issues considered, the figures available and the action taken. If records are incomplete, explain what can be reconstructed from emails and bank information.
Should I mention a director’s loan or guarantee?
Yes. Identify it separately from ordinary company debts and bring the relevant statements or agreements. This allows the question to be directed to the appropriate adviser.
What if several directors disagree about the position?
Set out where the disagreement lies and which figures each person is using. Explain who has access to records and whether the board has already taken professional advice.