Accounting Responsibilities of a Director

At FW Accounting, we see many contractors looking to set up limited companies. When we incorporate your limited company (which we do for free I might add), you become the Director of a company, which comes with it some responsibilities not everyone is aware of.

For whatever reason of starting your own limited company, you will be responsible for ensuring certain documents are prepared correctly and issued on time to Companies House;

  • Annual Return – On the anniversary of your company’s incorporation, Companies House will want to check that all of your details are still the same, such as the registered office address, shareholders and principal business.
  • Annual Report and Accounts – your year-end accounts will need to be submitted to the Revenue to ensure your taxes are paid correctly.
  • Any changes to your limited company will need to be made aware to Companies House.

Your accountant will be able to assist you with these and can even act as your registered office address, so they can deal with any important mail quickly and efficiently.

Although your accountant will prepare your accounts for you, you will need to sign off on them and therefore, ensure they are correct. Remember, that is it is your responsibility as Director of the company to ensure the documents are completed and correctly so. Therefore, it is important to ensure you have an accountant that you can trust, who will explain aspects of your account to you in plain language and who you are not afraid to ask any questions.

In addition to the above, you also have Companies Act Duties and Financial and Legal responsibilities, which is more in depth and complicated. We have provided a free download here which explains it thoroughly.

Our Accountancy Packages

Choose from a choice of three fixed-fee packages, each one designed to suit how 'hands-on' you would like to be in the day-to-day administration of your company.

Standard Package

Provides all key Limited Company support services that an experienced contractor requires - ensuring low costs but leaves you with the responsibility of making all HMRC payments.

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Standard Plus Package

All the benefits of our Standard Package plus Initial IR35 Contract Review, Annual Tax Planning Review and Second Shareholder Personal Tax Return.

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Premier Package*

Our most popular service, 83% of our clients enjoy the all- inclusive support that this option provides. We take care of everything on your behalf – you won’t find a more complete service anywhere.

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