Company Directors
Limited Companies are owned by the shareholders but they do not usually run them. This job is given to the Director(s) and all Limited Companies must have at least one Director.
Directors have many business responsibilities for ensuring the success of their company, in areas such as health and safety, employment law, tax and ensuring that the company produces annual accounts. If key information is not sent to Companies House then the company runs the risk of incurring serious penalties.
Directors have many business responsibilities for ensuring the success of their company, in areas such as health and safety, employment law, tax and ensuring that the company produces annual accounts. If key information is not sent to Companies House then the company runs the risk of incurring serious penalties.
Until recently the role and responsibilities of company directors was defined by case law. The Companies Act 2006 confirms existing case law and requires company directors to act in a way which is most likely to promote the success of the business.
The following are some of the key responsibilities for a company director:
The following are some of the key responsibilities for a company director:
- the annual return
- the annual accounts
- notification of any change in the company's officers or in their personal details
- notification of a change to the company's registered office
- allotment of shares
- registration of charges
For a comprehensive and easy to understand guide to Company Directors Responsibilities, visit the Business Link website http://www.businesslink.gov
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The content and advice is for information only. Last updated 09.11.2010.
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