Limited Company Director

Your Limited Company must have at least one Director, whose job it is to make sure that the Company is run in accordance with Company Law.You will also need to register with, and submit accounts to, Companies House, along with an annual return updating your Company details.

One of the key benefits of being a Shareholder is the ability to take all or part of your income as dividends. Dividend income is not subject to National Insurance contributions and will be tax free if you are a basic rate tax payer. You will pay additional dividend tax on the amount of dividend income received above the basic rate tax threshold.

Limited Companies can have more than one Director and/or Shareholder and further tax planning opportunities are available when considering second Shareholders. Dividends may also be deferred by Shareholders, therefore spreading personal tax liabilities over a longer period to reduce higher rate tax liability. Directors can also claim a wide range of allowable business expenses.