What are the responsibilities of a company secretary?

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Hi

I am getting together a group of individuals to start a new pet venture. We would like to form a company limited by shares, as it makes the most sense from a liability point of view. We’ve got directors and shareholders in place, but I was unsure as to whether we wanted a company secretary. I know it’s not a requirement to have one, but I don’t actually know whether I want one. What exactly are the responsibilities of a secretary? What do they do, and what are they required to do?

Best

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It is only a requirement for PLCs.

a year ago

Answers

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Private limited companies are not legally required to appoint a company secretary but many businesses can benefit for having one. The purpose of their appointment is to reduce the workload of directors by taking on duties and responsibilities such as:

  • Filing annual accounts and annual returns
  • Registering the company for business taxes
  • Filing tax returns
  • Dealing with payroll and PAYE
  • Arranging meetings and minutes of meetings
  • Maintaining the company registers
  • Record keeping
  • Reporting any changes to the business

It is an administrative role that comes with a great deal of responsibility but no formal training or qualifications are requirement. Directors are still ultimately responsible for these tasks, so any company secretary you appoint must be a competent and organised individual who can effectively manage these important duties.

a year ago
 

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