If you get a Directors Penalty Notice you must act immediately to avoid personal liability.
A director is required to take one of four specific actions within 21 days of issue or the director will be personally liable for the debt We have developed Ask IRA as a self assessment tool that simplifies a very complicated area – defining the problem and the appropriate solution for a company in financial distress.
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Following the administrators’ declaration, Hillary can choose to make capital losses equal to the reduced cost bases of her shares as at 31 March 2016.Click Here to Ask IRA Take this quick and easy test to determine your company standing.If you are concerned that your company is insolvent you have arrived at the best online assessment tool available.By planning your exit ahead of time, you can take the stress out of what can be a difficult and emotional process.
For help with planning your exit: Deciding whether to sell or close your business is a common decision businesses face when exiting their business.She claims the capital losses in her 2016 tax return.
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