Your responsibilities as a company director

Sections 171–177 of the Companies Act set out duties every director owes the company:

1. Act within your powers (follow the articles of association)
2. Promote the success of the company for the benefit of its members
3. Exercise independent judgement
4. Exercise reasonable care, skill and diligence
5. Avoid conflicts of interest
6. Not accept benefits from third parties
7. Declare any interest in a proposed transaction with the company

For a single-director company these sound abstract, but they bite in real situations — taking money out of the company informally, or continuing to trade while insolvent, are both duty problems before they are tax problems.

• Annual accounts to Companies House — 9 months after year end
• Confirmation statement — at least every 12 months
• Company Tax Return and Corporation Tax payment to HMRC
• Event-driven filings — changes of director, registered office, share transfers and PSC changes must be reported as they happen
• PAYE and VAT obligations where the company employs staff (including paying yourself a salary) or is VAT-registered

The full deadline calendar explained →

Directors must ensure the company keeps adequate accounting records — capable of showing the company’s financial position at any time — and maintains its statutory registers (members and PSCs). Keep records at least six years in practice: the Companies Act minimum is three for a private company, but HMRC requires six for anything supporting a tax return. Failing to keep accounting records is a criminal offence, and in insolvency it is one of the first things investigated.

Under the Economic Crime and Corporate Transparency Act, Companies House now requires directors and people with significant control to verify their identity. New directors have needed verification since 18 November 2025; existing directors verify in connection with their company’s next confirmation statement during the transition period. It’s free via GOV.UK One Login, or an authorised agent (such as an accountant) can verify you. Acting as an unverified director once the rules apply to you is an offence — if you’re unsure of your position, we’ll check it when we review your company record.

Confirmation statement + verification check →

The pattern that works for most owner-managers: you keep the decisions and sign-offs, your accountant keeps the calendar, the formats and the filings. We prepare accounts, Corporation Tax returns and confirmation statements for micro and small companies, and chase you before every deadline rather than after. Call 0114 327 1480.

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