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Guides for directors

These are the longer, step-by-step guides for directors who want the full picture rather than a quick answer. They walk through what insolvency means for you, how to close a company the right way, what happens to your employees, and how to handle HMRC. Each is written in plain English by our editorial desk and sourced to official UK guidance. This is information only, not advice: speak to a Licensed Insolvency Practitioner about your own situation. Start with whichever matches your situation, and use the linked tools and guides as you go.

A director's guide to company insolvency Everything a UK company director needs to understand when the company is in financial difficulty: your duties, the options, and the personal risks. How to close a limited company: step by step A step-by-step guide to closing a UK limited company the right way, whether it is solvent or insolvent. What happens to employees when a company closes Employee rights and claims when a UK company becomes insolvent: redundancy, wages, holiday and notice pay from the Redundancy Payments Service. Am I personally liable for my company's debts? Most directors are not personally liable for their limited company's debts. The specific exceptions that make you liable: personal guarantees, an overdrawn loan account, wrongful trading, misused Bounce Back Loans and unlawful dividends. Business rescue finance: funding a turnaround or restart How UK companies fund a rescue or a restart after insolvency: the finance options at each stage, the order to do things in, and the rules that keep a restart legal. Invoice finance during a CVA or administration How invoice finance funds working capital while a CVA runs or an administrator trades the business, what lenders look at, and where the insolvency practitioner fits. Phoenix company finance: funding a legal restart Starting a new company after insolvency is legal if the rules are respected. How a phoenix or NewCo gets funded with no trading history, and the legal lines that keep the restart legitimate. HMRC arrears: funding options to clear a tax bill When funding a VAT or tax bill makes sense, when Time to Pay is the better answer, and when borrowing against HMRC arrears is the wrong move entirely. Business rescue finance case studies (illustrative) Two illustrative examples of how rescue and restart finance is structured in practice: a construction firm funded after a failed CVA and a haulage business bridged with invoice finance.

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