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.
 

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.
 

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.

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.

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

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?
 

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?
 

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.

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.