IT Contractor Tax Limited Company Accounts Accounting

IT Contractor Insurance
Professional Indemnity insurance for contractors + public and employers' liability cover - try Hiscox.

Can anyone become a limited company director?

Posted Oct 14, 2009

Are there any restrictions on who can become a limited company director, and do you need any qualifications?

The UK is well known for the ease with which you can set up a new business. You can form a limited company online within a matter of minutes, and have the entire incorporation validated by Companies House in a matter of hours during the working week.

Alongside various naming restrictions, and rules governing the running of UK companies, there are also some legal restrictions on the appointment of company directors.

Broadly speaking, unless told otherwise by the Courts, you can become a director unless you are:

1) Disqualified from being a company director
2) Bankrupt
3) Under the age of 16

All limited companies must have at least one director, and may also decide to appoint a company secretary (although this is optional).

You do not have to have any specific qualifications to be appointed as a company director or company secretary, although you should be aware of your responsibilities as a company director before taking the position on.

It is worthwhile reading the Companies House guide to company incorporation and naming rules.

| ©Contract Eye Ltd. Protected by Copyscape. Please scroll down for related articles.

Contractor Services


Related Articles

Limited companies - what are the Articles and Memorandum of Association used for?
We look at two of the documents required when you set up a company, with particular reference to the Articles of Association.

IT contractors - what is a limited company?
Most IT contractors work via a limited liability company. So what is a limited company, what are your responsibilities as a director?

Forming a limited company - which documents do you need to complete?
Contractors thinking of going into business for the first time may be daunted by the thought of forming a limited company. However, in reality, the company formation process is not complex.

As a company director, can I keep my home address private?
Following the introduction of the Companies Act 2006, limited company directors can provide a 'service address' to appear on the public record, and keep their residential address private.

Limited company dividend vouchers and board meeting minutes
A limited company must record its intention to issue dividend payments via board meeting minutes, and issue each shareholder with a dividend voucher. A simple guide to getting the paperwork right.

How to change the name of your limited company
At some stage during your contracting career, you may decide that you would like to change the name of your limited company.

Limited company contractors - what are dividends?
A guide to dividends for contractors and small businesses. How to calculate them, when to distribute them and what paperwork you need to complete.

Guide to setting up a limited company
How to set up a limited company for your new business. What are the legal requirements?

Contracting via a limited company - advantages and disadvantages
We look at the advantages and disadvantages to contracting via a limited company, the most tax efficient way to contract.

Contractor limited company naming tips
If you have decided to contract via your own limited company, one of the first tasks you need to do is choose a suitable name for your new enterprise.

How to incorporate a limited company
If you are thinking of contracting via your own limited company, there are typically three ways of incorporating your new company.

Your duties and obligations as a limited company director
If you are a limited company contractor, there are a number of duties you must perform by law as company director. You also have several financial and legal responsibilities which you should be aware of.

Choosing a name for your limited company
If you want to set up as a limited company contractor, there are some things you should look out for when selecting a company name.

How do I switch from an umbrella company to a limited company?
Moving from an umbrella to limited company structure should be a hassle free process - here are some things to bear in mind before making the move.

Companies House and limited company contractors
Limited company contractors will communicate with Companies House in a number of ways each year, from submitting their annual returns, to providing company information updates.

Qdosconsulting

Looking for a new service provider?

Accountants
Umbrella Companies