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directors

COVID-19: OPTIONS AND PROTECTION AVAILABLE TO COMPANIES IN DISTRESS

Directors will naturally be concerned as to their conduct during the current pandemic. Trying to do the right thing by the company’s employees, customers, suppliers and other stakeholders whilst ensuring ongoing compliance with their fiduciary duties will be challenging, however, changes are being made to the insolvency regime to provide directors with breathing space to explore their options, whilst protecting them from risk of personal liability.  

COVID-19: OPTIONS AND PROTECTION AVAILABLE TO COMPANIES IN DISTRESS

Directors will naturally be concerned as to their conduct during the current pandemic. Trying to do the right thing by the company’s employees, customers, suppliers and other stakeholders whilst ensuring ongoing compliance with their fiduciary duties will be challenging, however, changes are being made to the insolvency regime to provide directors with breathing space to explore their options, whilst protecting them from risk of personal liability.  

COVID-19: INSOLVENCY MEASURES & THE PRACTICAL IMPLICATIONS

The Government announced on 28 March 2020 new insolvency measures to support businesses under pressure as a result of the coronavirus pandemic. Below, we explore below the proposed amendments to insolvency law and some of the other practical implications that have arisen due to social distancing guidance.

COVID-19: INSOLVENCY MEASURES & THE PRACTICAL IMPLICATIONS

The Government announced on 28 March 2020 new insolvency measures to support businesses under pressure as a result of the coronavirus pandemic. Below, we explore below the proposed amendments to insolvency law and some of the other practical implications that have arisen due to social distancing guidance.

Are you making the most of “Trivial Benefits”?

Earlier this year we highlighted the tax concession afforded by the so-called Trivial Benefit rules.

Disqualified from acting as a director

When a director has been found guilty of mismanagement verging on fraud, one of the remedies that the courts can impose is disqualification as a director. But what does this actually mean?  

Disqualified from acting as a director

When a director has been found guilty of mismanagement verging on fraud, one of the remedies that the courts can impose is disqualification as a director. But what does this actually mean?  

Director minimum salary levels 2017-18

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce NIC, and, in some cases, Income Tax.

Director minimum salary levels 2017-18

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce NIC, and, in some cases, Income Tax.

Related Parties

There have been some subtle changes to who is now classified as a related party and subsequently a potential increase in the related party disclosures required in the year end accounts.  An individual or organisation is a natural related party under any of the following circumstances: