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Director Disqualifications

Director Disqualifications

Disqualified directors will be prevented(banned) from acting as director of a company and from holding a managerial role within a company for up to 15 years. In other words, he/she is being disqualified are not able to hold, run or even start a new company. Besides, a fine or imprisonment might happen to he/she as the terms of disqualification is breached.

What causes a director to be disqualified?

  • Do not follow the company rules
  • Do not Keep company records and report changes
  • Do not file your accounts and your company tax return
  • Do not pay corporation tax

The reason given above might cause a director being fined, prosecuted and disqualify according to the latest regulatory.

Who can make a director disqualified?

  • The Competition and Markets Authority (CMA)
  • The courts
  • Companies House
  • Insolvency Practitioner
  • Insolvency Service

What we can do?

  • Advising disqualified directors on their duties and responsibilities.
  • Entering into negotiations with the Insolvency Service on behalf of directors with a view to achieving a settlement, so to avoid disqualification proceedings being issued at Court.

Contact our Litigation Solicitors:

If you would like to enquire about any matters regarding director disqualifications please complete our online contact form here or send an email to us at [email protected] and one of our solicitors shall call you back.

Alternatively, please call our litigation solicitors in Manchester on 0330 127 8888 for a no obligation discussion.

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FAQ

Most frequent questions and answers

The type of activities the law calls “unfit conduct” for company directors includes:

  • Continuing to trade when a company can’t pay debts
  • Failing to keep proper accounting records
  • Not providing accounts and returns to Companies House
  • Not paying Corporation Tax
  • Using company funds for personal use

Automatic disqualification happens if you’re declared bankrupt, given a Debt Relief Order or subject to bankruptcy or debt relief restrictions. And you can be prosecuted for conducting business on the instruction of a disqualified person.

Action taken against directors accused of not meeting their responsibilities and duties can be started by:

  • The Insolvency Service – if your company (or you) are involved in insolvency proceedings
  • Companies House
  • The Competition and Markets Authority (CMA)
  • The courts
  • A company insolvency practitioner

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