Sign up to Orange Genie today!

Accountancy

Limited Company Directors Responsibilities

If your limited company formation has taken place, as the Director, the law says you must:

  • Try to make the company a success, using your skills, experience and judgment

  • Follow the company’s rules, shown in its articles of association

  • Make decisions for the benefit of the company, not yourself

  • Tell other shareholders, if there are any if you might personally benefit from a transaction the company makes

  • Keep  accurate company records and report changes to Companies House and HMRC

  • Make sure the company’s accounts are a ‘true and fair view’ of the business’ finances and are filed annually on time with Companies House and HMRC

  • Register for Self Assessment and send a personal Self Assessment tax return every year

You can appoint a professional contractor accountants/advisors, such as Orange Genie Accountancy, to undertake some of the tasks for you. For instance, we can prepare your Statutory Accounts but you retain legal responsibility for them. This means we will seek your approval of the accounts and confirmation that they can be filed before we submit them to Companies House and HMRC.

Professional advisors such as Orange Genie Accountancy can offer advice in relation to the running of your company but the decision to act or not on that advice lies with you as director. Any advice given will be based on information provided by you as a company director and it is your responsibility to ensure the information you provide is an accurate reflection of the given situation.

Accountancy Contact us today

News and Updates

Stay up to date with the latest contractor news

Questions to Impress Your Clients and Help Land Your Next Contract

The need to source new work is an ever-present part of a contractor’s life, which means most contractors develop considerable experience at pitching

Why we work with FreeAgent

Cloud-based accounting software has transformed the way contractors interact with the financial side of their business, and with the implementation of

Getting the Most out of Your Business Apps

In today's digital age, small business owners have a large number of business applications at their disposal to streamline operations, improve