What is a Solvency Resolution?
The Companies Act 1993 makes the following provisions:
So, in view of these requirements of the Act, your accountant may ask you as a shareholder to sign a resolution stating that you will financially support the company.
Note: If you have a LTC and it has a land-and-build-to-rent project, then it is likely that during the construction phase your LTC will be technically insolvent.
For more information, please call us on 0800 890 132 or contact us here
Comments are closed.
Accounting for your rental residential investment property; specialised property tax advice. Buy me a coffee!