Director's Duties

The legal obligations placed on company directors under the Companies Act 2006, including acting in the company's best interests, avoiding conflicts of interest, and exercising reasonable care.

Breaching director's duties can lead to personal liability, fines, and disqualification. Understanding them protects you and the company.

A director must not take a £50,000 personal loan from the company without board approval and proper documentation, doing so may be a breach of duty and trigger tax liabilities.