Director information hub: Reducing the risk of insolvency

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In the UK each year there are many insolvencies that potentially could be avoided if appropriate action was taken.

Acting to reduce the risk of insolvency

There are some simple actions that could reduce your risk of insolvency. These are laid out in the pages of the director information hub.

being aware of the basics when starting a company
seeking advice from professionals during start-up and throughout your company lifespan
carrying out your duties as a director properly
maintaining proper financial records
understanding what the company accounts are telling you
paying the correct tax on time
spotting the early signs of financial distress – and taking action
getting sound, professional advice in the event of financial distress

Getting early professional help and guidance offers companies a greater opportunity of reducing the risk of insolvency.

Find out more about the options available when your company becomes insolvent, including options that keep the company open.