What are company directors?

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I’d like to form a company online (it will be in Northumbria, if that’s of any consequence). Now, I’m keen on forming a company limited by shares, as the shareholder structure sounds like it will suit my long-term goals. Yet I’m not so sure about the role of company directors. You never really hear anything about them in the news, it’s always CEOs and COOs. What exactly is a company director?

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A director is the person responsible for running day-to-day the business activities of a company and managing its finances in accordance with company law and for the benefit of its owners. Most company owners (shareholders) assume the role of director, so you can be both the director and shareholder of your new company.

It is also possible for shareholders to appoint other people as directors to run a company on their behalf, but this only tends to happen in large corporations.

As a company director, you will be responsible for managing all operations, filing reports and accounts with Companies House, preparing tax returns, paying taxes, ensuring Companies House and HMRC are notified of any changes, and dealing with everything else associated with the maintenance of the business.

a year ago
 

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