Recovery Matters Autumn 2022 – Directors’ Duties
Directors’ Hub
Moreso than ever in these times of real hardship for small businesses, financial and operational problems require specialist skills and experience. Planning the most sensible way forward is key for directors under pressure, and we recognise that directors need added support. We have created a Directors’ Hub to help steer you through some of the issues we hear that are troubling directors.
A guide to directors’ duties
With a nominal Companies House fee and a short form to complete, setting up a limited company and becoming a director of said company has never been easier. However, many are unaware of the duties that fall upon them once the payment has been processed and the Registrar of Companies has been updated. From statutory duties under the Companies Act 2006 to instances of personal liability under the Insolvency Act 1986 (“IA86”), being a director of a limited company in the United Kingdom can be a difficult position to navigate.
Read more of Tara’s article here.
A guide to directors’ duties
As we have seen from the latest monthly insolvency statistics, the number of registered company insolvencies in August 2022 was 43% higher than in the same month in the previous year and 42% higher than the number registered three years previously (pre-pandemic).
A guide to directors’ duties
Receiving professional advice on business recovery and insolvency is paramount as soon as any sense of financial difficulty arises. Our experienced team at Moore Kingston Smith Licensed Insolvency Practitioners can help you to identify the best route to safeguard your business.