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The Insolvency Service investigation

The Insolvency Service investigation


When a company enters liquidation or administration the IP has to carry out a statutory investigations into the causes of the company’s demise and submit their report to Department for Business Innovation & Skills (BIS) aka The Insolvency Service.

BIS can take action against directors, including:

  • Issuing a fine
  • Disqualification for between two and fifteen years
  • Sending the director/s to prison


IP carries out a statutory investigation into the causes of the company’s demise and submits their report to Department for Business Innovation & Skills (BIS) aka The Insolvency Service

Sometimes this will lead to a director being banned from acting as a director in the future (up to fifteen years) together with fines. In the worst cases directors may even get a prison sentence although this is fortunately quite rare.

The public can also make complaints to BIS direct here:

https://www.gov.uk/complain-about-a-limited-company



David Kirk ACA FABRP

David Kirk

David Kirk is a Chartered Accountant and Licensed Insolvency Practitioner.
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