Whether you are contracting for your own limited company or you are appointed as the director for someone else’s company, there are certain duties that you are required by law to perform as director. If you own a limited company and are appointing a director, you should also understand these responsibilities to ensure that your company remains compliant with the current rules and regulations surrounding limited companies.
Company directors’ responsibilities
The Companies Act 2006 set forth the current duties and obligations of limited company directors. There are a total of seven major functions that the director must perform. These include promoting the company, exercising independent judgement in the operation of that company, using reasonable care and skill when performing company duties, avoiding any conflicts of interest within the company, and declaring any interests in proposed transactions.…Continue reading