Christmas Sales down?
Is your business struggling to benefit from the Christmas rush?
Do you have cashflow problems?
Finding it difficult to pay your debts as they fall due?
BEWARE – unless certain procedures are followed, directors could find themselves in hot water and found guilty of wrongful trading or even fraudulent trading.
Wrongful trading occurs when the directors continue to operate when they knew, or ought to have known, there is no prospect of paying all their debts as they fall due. This is quite onerous and if found guilty the protection of limited liability falls away and directors, including shadow and defacto directors, become personally liable for all liabilities from the date wrongful trading was established.
Fraudulent trading occurs when you choose who you pay but can’t pay everyone. This can be a criminal offence which can be avoided with our assistance.
To benefit from the Christmas rush contact us for professional, confidential advice on 01932 336149