Directors are responsible for supervising the activities of the corporation and for making decisions regarding those activities. Officers are responsible for the day-to-day operation of the corporation.

Directors' responsibilities

As a director of a limited company, you must:

• Follow the company’s rules, shown in its articles of association
• Keep company records and report changes
• File your accounts and your Company Tax Return
• Report payroll, file PAYE to HMRC regularly, monthly or weekly.
• Arrange and pay employee's and employer's part of National Insurance Contribution
• Set up and be responsible for employee working pension and auto-enrolment
• Tell other shareholders if you might personally benefit from a transaction the company makes
• Pay Corporation Tax and any other taxes due

Company directors are being reminded that if they are due to file accounts with Companies House by the end of September, they should use its online services where possible and allow plenty of time before their deadline.

It’s the directors’ responsibility to file a company’s account, and failure to do so could result in a criminal record, a fine or disqualification. The department warned that for small companies, it is not possible to file abbreviated accounts anymore, but they can find their accounts filing options for small companies. Small companies will also still need to file accounts if their company is dormant.

We provide full range of services that help to meet your needs. Our works is to help easing your responsibilities and remembering of accounting need, payroll, and tax timelines.

***Contact us to learn more.