Getting Started
Understanding Your Responsibilities as a Director
Learn about your legal duties, filing requirements, and personal liabilities as a company director.
By Free Business Registration Ltd · 1 min read
As a company director, you have legal responsibilities under the Companies Act 2006. Understanding these duties is essential to avoid personal liability.
In this guide
Seven Statutory Duties
- Act within your powers according to the company's constitution
- Promote the success of the company for the benefit of shareholders
- Exercise independent judgment
- Exercise reasonable care, skill and diligence
- Avoid conflicts of interest
- Not accept benefits from third parties
- Declare any interest in proposed transactions
Filing Responsibilities
- Confirmation statement: £50 online or £110 on paper, with the first statement in each 12-month payment period
- Annual accounts are normally due 9 months after the financial year ends; first accounts have different rules
- Corporation tax return within 12 months
- Report company changes by the deadline applicable to that change; check Companies House guidance
- Maintain statutory registers
- Keep accounting records for 6 years
Official guidance
This is general guidance. Check the current official rules and get advice for your circumstances before making tax, legal or financial decisions.