Knowledge Bank

As a director, will I be held personally liable for my company’s debt? Where to begin Understanding your liabilities as a director can be hard work and often confusing. A liability is a debt that your company is responsible for, such as bank loans, outstanding invoices, finance

Personal liability for bounce back loans Personal liability for bounce back loans is a subject that comes up with many business owners that we speak to. Over 1.5 million Bounce Back Loans were taken, but not every business has ‘bounced back’. In this article, we’re looking into

Does Liquidation Affect My Credit Rating?  Since the pandemic, many directors have had to make the tough decision to close their limited companies. Liquidation and company closure can be a minefield, and it’s often the same questions that get asked. For example, one common question is: does

If I liquidate my company will I lose my home? If you are thinking about liquidating your business then you are probably also wondering what are the risks to you and your family personally if you decide to liquidate your company. With business insolvency figures rising month

Can I strike a company off that still owes a Bounce Back Loan? Bounce back loans were made available when many businesses required support. For some, the loan allowed the business to continue. But for others, the business is no longer making money. Many directors have been

What happens to a director’s loan account in liquidation? Firstly, if you are reading this article and are worried that you have a director’s loan, we don’t want you to panic. There are many directors in the same position. What’s more, you have options even if your