There are two significant changes to Non-lockdown Director Penalty Notices (DPNs) that all company directors need to know:
- The option for the company to enter a payment arrangement is gone. This means that directors can no longer avoid personal liability for a penalty under a Non-lockdown DPN by entering into a payment arrangement for the outstanding liability within the 21 days; and
- It is now an option to appoint a Small Business Restructuring Practitioner (SBRP) to facilitate a SBR within 21 days.
What are DPN’s – find out here.