Director Responsibilities for Company Accounts: What UK Directors Must Know in 2025
If you’re a company director in the UK, you hold legal responsibilities for ensuring your business complies with financial reporting rules. In 2025, HMRC and Companies House continue to take these duties seriously, and failure to comply can result in penaltiesโor even disqualification.
This article explains the key director responsibilities for company accounts and offers practical guidance to help you stay compliant.
1. Legal Duty to Prepare Accurate Company Accounts
As a director, you’re responsible for making sure that annual accounts:
- Give a true and fair view of the companyโs financial position
- Are prepared in line with UK Generally Accepted Accounting Principles (UK GAAP) or IFRS (if applicable)
- Are filed by the statutory deadline with Companies House
2. Deadlines for Filing Accounts in 2025
- For most private limited companies: 9 months after the end of the accounting period
- Newly incorporated companies: within 21 months of incorporation
Missing deadlines results in automatic penalties, which increase the longer the delay.
3. Confirmation Statement & Corporation Tax
In addition to annual accounts, directors must also ensure:
- A Confirmation Statement is filed annually to update Companies House
- Corporation Tax returns (CT600) are submitted to HMRC within 12 months of the accounting period end
- Tax due is paid within 9 months and 1 day of the accounting period end
4. Maintaining Accurate Financial Records
You’re required to keep:
- Records of all income and expenses
- Bank statements, invoices, and receipts
- Details of company assets, liabilities, and shareholder information
Financial records must be kept for at least 6 years.
5. Director’s Fiduciary Duties
Beyond accounting, directors must act in the companyโs best interest. This includes:
- Avoiding conflicts of interest
- Ensuring the company does not trade while insolvent
- Acting with care, skill, and diligence
6. Using Accountants or In-House Support
While you can appoint an accountant, the legal responsibility still rests with you as a director. A good accountant helps:
- Prepare and file accounts
- Advise on tax planning and compliance
- Maintain digital records (especially under Making Tax Digital)
7. Penalties for Non-Compliance
Penalties for late filing of accounts include:
- ยฃ150 for being 1 day late
- Up to ยฃ1500 for being more than 6 months late
Deliberate failure to file accounts can lead to:
- Personal liability
- Disqualification as a director
- Legal action by creditors or HMRC
How Eclat Accountancy Supports Directors
At Eclat Accountancy, we help company directors:
- Stay on top of filing deadlines
- Prepare compliant financial statements
- Avoid penalties and disqualification
- Fulfil all HMRC and Companies House obligations
Final Thoughts
Understanding your director responsibilities for company accounts in 2025 is critical to running a successful, compliant business. Whether you’re a new or experienced director, staying proactive ensures you protect both the business and your personal reputation.
Speak to Eclat Accountancy today to ensure your companyโs finances are fully compliant and professionally managed.
