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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 7217
Experience:  FCCA FCMA CGMA ACIS
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My question relates to a Uk Limited Company. I have been

Customer Question

My question relates to a Uk Limited Company.I have been told by an accountant (not my current one) that I have been trading whilst insolvent.Yes, the balance sheet shows I have more liabilities than assets. These liabilities are however a shareholders loan from myself to the company. I, the director and only shareholder am the sole creditor.
Does this mean it is operating whilst insolvent?
Submitted: 11 days ago.
Category: Tax
Expert:  bigduckontax replied 11 days ago.

Hello, I am one pf the experts on Just Answer and pleased to be able to help you with your question.

No it does not! I suggest that you find yourself an accountant with a more comprehensive knowledge of trading whilst insolvent than is currently being displayed.