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running-a-limited-company
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<div class="grid-row">
<div class="column-two-thirds">
<div class="gem-c-title
gem-c-title--margin-bottom-5">
<h1 class="gem-c-title__text ">
Running a limited company
</h1>
</div>
<aside class="part-navigation-container" role="complementary">
<nav role="navigation" class="gem-c-contents-list " data-module="track-click" aria-label="Pages in this guide">
<h2 class="gem-c-contents-list__title">Contents</h2>
<ol class="gem-c-contents-list__list">
<li class="gem-c-contents-list__list-item gem-c-contents-list__list-item--dashed gem-c-contents-list__list-item--active" aria-current="true">
Directors' responsibilities
</li>
<li class="gem-c-contents-list__list-item gem-c-contents-list__list-item--dashed ">
<a class="gem-c-contents-list__link " data-track-category="contentsClicked" data-track-action="content_item 2" data-track-label="/running-a-limited-company/taking-money-out-of-a-limited-company" data-track-options="{"dimension29":"Taking money out of a limited company"}" href="/running-a-limited-company/taking-money-out-of-a-limited-company">Taking money out of a limited company</a>
</li>
<li class="gem-c-contents-list__list-item gem-c-contents-list__list-item--dashed ">
<a class="gem-c-contents-list__link " data-track-category="contentsClicked" data-track-action="content_item 3" data-track-label="/running-a-limited-company/company-changes-you-must-report" data-track-options="{"dimension29":"Company changes you must report"}" href="/running-a-limited-company/company-changes-you-must-report">Company changes you must report</a>
</li>
<li class="gem-c-contents-list__list-item gem-c-contents-list__list-item--dashed ">
<a class="gem-c-contents-list__link " data-track-category="contentsClicked" data-track-action="content_item 4" data-track-label="/running-a-limited-company/company-and-accounting-records" data-track-options="{"dimension29":"Company and accounting records "}" href="/running-a-limited-company/company-and-accounting-records">Company and accounting records </a>
</li>
<li class="gem-c-contents-list__list-item gem-c-contents-list__list-item--dashed ">
<a class="gem-c-contents-list__link " data-track-category="contentsClicked" data-track-action="content_item 5" data-track-label="/running-a-limited-company/company-annual-return" data-track-options="{"dimension29":"Confirmation statement (annual return)"}" href="/running-a-limited-company/company-annual-return">Confirmation statement (annual return)</a>
</li>
<li class="gem-c-contents-list__list-item gem-c-contents-list__list-item--dashed ">
<a class="gem-c-contents-list__link " data-track-category="contentsClicked" data-track-action="content_item 6" data-track-label="/running-a-limited-company/signs-stationery-and-promotional-material" data-track-options="{"dimension29":"Signs, stationery and promotional material"}" href="/running-a-limited-company/signs-stationery-and-promotional-material">Signs, stationery and promotional material</a>
</li>
</ol>
</nav>
</aside>
</div>
<div class="column-two-thirds">
<h1 class="part-title">
Directors' responsibilities
</h1>
<div class="gem-c-govspeak govuk-govspeak direction-ltr disable-youtube" data-module="govspeak">
<p>As a director of a limited company, you must:</p>
<ul>
<li>follow the company’s rules, shown in its <a href="/limited-company-formation/memorandum-and-articles-of-association">articles of association</a>
</li>
<li>
<a href="/running-a-limited-company/company-and-accounting-records">keep company records</a> and <a href="/running-a-limited-company/company-changes-you-must-report">report changes</a>
</li>
<li><a href="/prepare-file-annual-accounts-for-limited-company/file-your-accounts-and-company-tax-return">file your accounts and your Company Tax Return</a></li>
<li>tell other shareholders if you might personally benefit from a transaction the company makes</li>
<li>pay <a href="/corporation-tax">Corporation Tax</a>
</li>
</ul>
<p>You can <a href="/tax-help">hire other people</a> to manage some of these things day-to-day (for example, an accountant) but you’re still legally responsible for your company’s records, accounts and performance.</p>
<div role="note" aria-label="Help" class="application-notice help-notice">
<p>You may be fined, prosecuted or <a href="/company-director-disqualification">disqualified</a> if you do not meet your responsibilities as a director.</p>
</div>
<p>Contact your professional adviser or <a rel="external" href="http://www.taforum.org/Members">trade association</a> to find out more.</p>
</div>
<nav class="gem-c-pagination" role="navigation" aria-label="Pagination">
<ul class="gem-c-pagination__list" data-module="track-click">
<li class="gem-c-pagination__item gem-c-pagination__item--next">
<a href="/running-a-limited-company/taking-money-out-of-a-limited-company" class="gem-c-pagination__link" rel="next" data-track-category="contentsClicked" data-track-action="next" data-track-label="/running-a-limited-company/taking-money-out-of-a-limited-company" data-track-dimension="next" data-track-dimension-index="29">
<span class="gem-c-pagination__link-title">
<svg class="gem-c-pagination__link-icon" xmlns="http://www.w3.org/2000/svg" height="13" width="17" viewbox="0 0 17 13">
<path fill="currentColor" d="m10.107-0.0078125-1.4136 1.414 4.2926 4.293h-12.986v2h12.896l-4.1855 3.9766 1.377 1.4492 6.7441-6.4062-6.7246-6.7266z"></path>
</svg>
<span class="gem-c-pagination__link-text">
Next
</span>
</span>
<span class="gem-c-pagination__link-divider visually-hidden">:</span>
<span class="gem-c-pagination__link-label">Taking money out of a limited company</span>
</a>
</li>
</ul>
</nav>
<div class="app-c-print-link">
<a href="/running-a-limited-company/print" class="app-c-print-link__link" rel="alternate">
Print entire guide
</a>
</div>
</div>
<div class="column-one-third">
<div class="gem-c-contextual-sidebar">
<div class="gem-c-related-navigation">
<h2 id="related-nav-related_items-b73c91a7" class="gem-c-related-navigation__main-heading" data-track-count="sidebarRelatedItemSection">
Related content
</h2>
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<ul class="gem-c-related-navigation__link-list" data-module="track-click">
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--sidebar gem-c-related-navigation__section-link--other" data-track-category="relatedLinkClicked" data-track-action="1.1 Related content" data-track-label="/prepare-file-annual-accounts-for-limited-company" data-track-options="{"dimension28":"6","dimension29":"Accounts and tax returns for private limited companies"}" href="/prepare-file-annual-accounts-for-limited-company">Accounts and tax returns for private limited companies</a></li>
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--sidebar gem-c-related-navigation__section-link--other" data-track-category="relatedLinkClicked" data-track-action="1.2 Related content" data-track-label="/file-an-annual-return-with-companies-house" data-track-options="{"dimension28":"6","dimension29":"File your confirmation statement (annual return) with Companies House"}" href="/file-an-annual-return-with-companies-house">File your confirmation statement (annual return) with Companies House</a></li>
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--sidebar gem-c-related-navigation__section-link--other" data-track-category="relatedLinkClicked" data-track-action="1.3 Related content" data-track-label="/file-your-company-accounts-and-tax-return" data-track-options="{"dimension28":"6","dimension29":"File your accounts and Company Tax Return"}" href="/file-your-company-accounts-and-tax-return">File your accounts and Company Tax Return</a></li>
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--sidebar gem-c-related-navigation__section-link--other" data-track-category="relatedLinkClicked" data-track-action="1.4 Related content" data-track-label="/business-support-helpline" data-track-options="{"dimension28":"6","dimension29":"Get help and support for your business"}" href="/business-support-helpline">Get help and support for your business</a></li>
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--sidebar gem-c-related-navigation__section-link--other" data-track-category="relatedLinkClicked" data-track-action="1.5 Related content" data-track-label="/tax-help" data-track-options="{"dimension28":"6","dimension29":"Get help with tax"}" href="/tax-help">Get help with tax</a></li>
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--sidebar gem-c-related-navigation__section-link--other" data-track-category="relatedLinkClicked" data-track-action="1.6 Related content" data-track-label="/cartels-price-fixing" data-track-options="{"dimension28":"6","dimension29":"Avoid and report anti-competitive activity"}" href="/cartels-price-fixing">Avoid and report anti-competitive activity</a></li>
</ul>
</nav>
</div>
</div>
</div>
</div>
<div class="grid-row">
<div class="column-two-thirds">
<div class="gem-c-contextual-footer">
<div class="gem-c-related-navigation">
<nav role="navigation" class="gem-c-related-navigation__nav-section" aria-labelledby="related-nav-topics-ae9e2c35" data-module="gem-toggle">
<h2 id="related-nav-topics-ae9e2c35" class="gem-c-related-navigation__sub-heading gem-c-related-navigation__sub-heading--footer" data-track-count="footerRelatedItemSection">Explore the topic</h2>
<ul class="gem-c-related-navigation__link-list" data-module="track-click">
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--footer" data-track-category="relatedLinkClicked" data-track-action="1.1 Explore the topic" data-track-label="/browse/business/limited-company" data-track-options="{"dimension28":"3","dimension29":"Running a limited company"}" href="/browse/business/limited-company">Running a limited company</a></li>
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--footer" data-track-category="relatedLinkClicked" data-track-action="1.2 Explore the topic" data-track-label="/topic/company-registration-filing/running-company" data-track-options="{"dimension28":"3","dimension29":"Running a company"}" href="/topic/company-registration-filing/running-company">Running a company</a></li>
<li class="gem-c-related-navigation__link"><a class="gem-c-related-navigation__section-link gem-c-related-navigation__section-link--footer" data-track-category="relatedLinkClicked" data-track-action="1.3 Explore the topic" data-track-label="/topic/business-tax/corporation-tax" data-track-options="{"dimension28":"3","dimension29":"Corporation Tax"}" href="/topic/business-tax/corporation-tax">Corporation Tax</a></li>
</ul>
</nav>
</div>
</div>
</div>
</div>