Directors can be held personally liable for outstanding tax debts. It is imperative to act quickly if you find that your business owes the ATO money to lower the risk to the directors. Payment plans are not always easy to achieve, but past experience at Iconic shows that with the right proposal, the ATO are happy to work with company and directors which results in stopping further recovery action. Interest and penalties can be removed under the right circumstances, saving our clients 10’s of 1000’s in the process. Contact us to see if you’re company is eligible.
Creditors may also have personal guarantee’s with directors, however by offering a number of different options to the creditor for payment means that in most cases further legal action can be prevented while repairing or maintain the ongoing working relationship. The key with negotiation is to under promise and over deliver, that way equity in the relationship is restored quickly, and if something unforeseen happens you can reply on that trust to change or modify the on going arrangement.
- Contact us today for a free consultation on 1300 118 556