[ˈkʌmpəni dɪˈrɛktə]
A Company Director is legally responsible for a Limited Company. They must deal with all filing and management requirements.
A Company Director is an individual who is legally responsible for the running and filing of a Limited Company. This individual is involved in making strategic business decisions and dealing with the day-to-day running of the business. They must act in the company's best interests and participate in board meetings.
A Company Director is technically an Employee of a Limited Company so will have their tax obligations deducted through the PAYE system.
Company Directors do not have to file a Self Assessment unless they pay themselves more dividends than the Dividend Allowance. This Allowance is £1000 for the 2023/24 Tax Year. They may also be able to claim Entrepreneurs' Relief if they sell the company.
There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.
Read moreSelf-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.
Read more