1. Directors' responsibilities

As a director of a limited company, you must:

You don’t need to register for Self Assessment or send a tax return if your company is a non-profit organisation (for example, a charity) and you didn’t get any pay or benefits, like a company car.

You can hire other people 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.

You may be fined, prosecuted or disqualified if you don’t meet your responsibilities as a director.

Contact your professional adviser or trade association to find out more.