With power many responsibilities go hand to hand and as a director of a Limited Company you do have several legal requirements you have to fill. We have put together a cheat sheet to make your life easier!

As the director of a Limited Company you must make sure the company is run properly. Amongst other things you have to complete the following:

1. Submit a Confirmation Statement (previously known as the Annual Return) to Companies House at least once every 12 months. Confirming:
   1. Company information
   2. Shareholder information
   3. Shares information
   4. People with Significant Control (PSC)
2. Submit annual accounts for Companies House and HMRC every year. The purpose of these accounts is to report the financial activity of the company and to calculate how much (if any) Corporation Tax is due to HMRC. Annual accounts include:
   1. Profit and loss account
   2. Balance sheet
   3. Notes about the accounts
   4. Directors report
   5. Auditors report (unless company qualifies for exemption)
   6. Name and signature of company director
3. Submit a CT 600 Corporation Tax return to HMRC
4. Submit VAT returns to HMRC (only required if their turnover exceeds the VAT threshold in the previous 12 months)
5. Ensure all company records are up to date and recorded correctly
6. Comply with current laws regarding employees
7. Comply with Health and Safety regulations
8. Notify Companies House and HMRC if you plan to close the company. This includes paying off all debts, canceling VAT registration paying PAYE and NIC contributions and running their final payroll and obtaining P45s for all employees (including one for the director)

If you don’t feel like doing it all yourself then you can always ask for our help!