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What triggers disqualification
Disqualification follows unfit conduct: continuing to trade while insolvent, failing to keep or file accounts, not paying tax, misusing company money, or fraud. It commonly arises after an insolvency when conduct is reviewed.
What a ban means
A disqualified person cannot be a director or take part in managing a company, directly or through others, for the ban period. It also bars running a new company. Acting reasonably and keeping records is the defence.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
How long does a director ban last?
Usually between 2 and 15 years, depending on how serious the conduct was. It can be given by court order or by an undertaking you agree to.
Does insolvency automatically disqualify me?
No. Honest business failure does not disqualify you. Disqualification requires conduct that made you unfit to be a director.
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Read →Funding for UK limited companies
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