As a director of a limited company, you must:
follow the company’s rules, shown in its articles of association
keep company records and report changes
file your accounts and your Company Tax Return
tell other shareholders if you might personally benefit from a transaction the company makes
pay Corporation Tax
You can hire other people to manage some of these things day-to-day (for example, an accountant) but you’re still legally responsible for your company’s records, accounts and performance.
You may be fined, prosecuted or disqualified from being a company director if you do not meet your responsibilities.
Contact your professional adviser or trade association to find out more.