Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

Although shareholders own a limited company, they don’t undertake the day to day running of the company; that’s the responsibility of the company directors. All limited companies must have at least one company director. Directors are responsible for a number of areas such as health and safety, tax and employment law. Directors are also responsible for a number of documents being submitted to Companies House in a timely manner, or risk receiving penalties. A company director must act in a way which will promote success of the company, according to the Companies Act 2006.

If a business has a company secretary, company directors may delegate responsibility for completion and submission of specified documents to the company secretary. However, the responsibility ultimately lies with the company directors. Certain documents have to be completed and submitted to Companies House, which includes annual company accounts and a yearly return. Other duties include the notification of a change in Registered Office address, changes to company officers or their personal information, the allocation of shares and registered charges.

In addition to the duties relating to Companies House, company directors have other obligations to the company. Employment law must be adhered to, including any changes, in order to avoid claims for unfair dismissal or discrimination among others. If the company has more than five employees, a health and safety policy must be put in place and documented. The payment of income tax, National Insurance and VAT are all the responsibility of company directors, who should ensure that the correct amount is paid in a timely manner.

guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More

June 2022 Client of the Month: Manea Kella

This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.