If this sounds like you
Should I speak to my accountant or an insolvency practitioner?
Understand the different roles and when specialist insolvency input may be appropriate.
You may recognise this
- You need current numbers and tax information.
- Formal enforcement or insolvency options are being discussed.
- You want someone to represent your personal interests as a director.
What to do now
- Ask your accountant for accurate current information.
- Use a licensed practitioner for formal insolvency advice.
- Consider separate legal advice where personal interests or disputes arise.
What to avoid
- Assuming every professional has the same duties.
- Assuming a formally appointed practitioner is your personal representative.
- Choosing solely on promises or pressure.
Useful information to gather
Do not wait for everything to be perfect. Start with what is readily available.
- Latest accounts and tax position
- Formal notices and deadlines
- A list of questions about company and personal exposure
Why timing matters
Earlier action can preserve time, information and choice. Waiting for certainty can allow cash, legal or creditor deadlines to decide the next step for you.
Would you like to talk about this?
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Related next steps
This page provides general information, not advice about your company or personal position. Formal deadlines may require immediate advice from a solicitor or licensed insolvency practitioner.