Business news and opinion from Evans Weir > Tag: Company directors

It may not be a question that you thought you’d have to ask yourself, but as a Director, part of your legal undertaking requires you to ensure that the business remains solvent and trades within its means. Operating outside of these boundaries could see the company being declared insolvent, struck off and you, as a Director, being penalised or disqualified – meaning you cannot be a Director again.

Whilst we’re happy to act as a virtual accounts’ office, we always say to our clients that it’s fine to outsource all your accounts work but please don’t outsource your thinking. Keep an active understanding as to what is happening and remain aware of your obligations. A recent tribunal between a company owner and HMRC has demonstrated the importance of knowing what’s going on – even if you choose to outsource.