Understanding Director’s Loan Accounts: Risks and Consequences
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Understanding Director’s Loan Accounts: Risks and Consequences
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TikTokdirectorfirst
Right now, most director disqualifications are tied to COVID loan misuse — Bounce Back Loans, furlough fraud, and other COVID-related claims. If you took loans you weren’t entitled to, took more than one, or moved the money out of the business immediately, you’re in dangerous territory. Other reasons for disqualification include wrongful trading, fraudulent trading, or failing to keep proper records — but even then, it’s rare for honest directors who’ve simply been overwhelmed. | Director First
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