OT: HELP!! Should I sign this?
Discussion
Hi
Been a lurker for a while and have been impressed by the general depth of knowledge on here, so I was wondering if I could ask some advice:
I'm a director of a little company (only 8 employees). The MD founded and owns all the company, and I recently became a non shareholding director mainly for reward for past performance, and for someone to offer guidance to the MD on company decisions etc, so dont have any financial involement in the company at all.
Anyhow, Ive got no reason at all to dis-trust the MD, but the last two days he's been going through and filling out the P35 Employers Annual Return form, which details all Income tax payments and National Insurance Contributions that the company has made throughout the last financial year, and needs to be in by Monday. The thing is, he is out of the office today, and has plonked the completed form on my desk, with a note on it saying "Can you sign this and send it off please".
I am a cheque signatory and assume I am legally allowed to sign this kind of document as a director, but I havent got a clue whats in it, or what responsibility I take on if I do sign it, and so feel I shouldnt sign it as by doing so I am saying that all the details are correct and truely stated, which I can't say as I havent been involved with the accounts etc.
The slightly concerning thing is, it would have been quicker for the MD to have signed it and just put it on my desk to post, rather than writing out a note asking me to sign it.
What do you think guys, do I challenge him and risk p1ssing him off, or just sign it as it won't be put personally on me anyway?
thanks. Chris
Been a lurker for a while and have been impressed by the general depth of knowledge on here, so I was wondering if I could ask some advice:
I'm a director of a little company (only 8 employees). The MD founded and owns all the company, and I recently became a non shareholding director mainly for reward for past performance, and for someone to offer guidance to the MD on company decisions etc, so dont have any financial involement in the company at all.
Anyhow, Ive got no reason at all to dis-trust the MD, but the last two days he's been going through and filling out the P35 Employers Annual Return form, which details all Income tax payments and National Insurance Contributions that the company has made throughout the last financial year, and needs to be in by Monday. The thing is, he is out of the office today, and has plonked the completed form on my desk, with a note on it saying "Can you sign this and send it off please".
I am a cheque signatory and assume I am legally allowed to sign this kind of document as a director, but I havent got a clue whats in it, or what responsibility I take on if I do sign it, and so feel I shouldnt sign it as by doing so I am saying that all the details are correct and truely stated, which I can't say as I havent been involved with the accounts etc.
The slightly concerning thing is, it would have been quicker for the MD to have signed it and just put it on my desk to post, rather than writing out a note asking me to sign it.
What do you think guys, do I challenge him and risk p1ssing him off, or just sign it as it won't be put personally on me anyway?
thanks. Chris
Hi
Been a lurker for a while and have been impressed by the general depth of knowledge on here, so I was wondering if I could ask some advice:
I'm a director of a little company (only 8 employees). The MD founded and owns all the company, and I recently became a non shareholding director mainly for reward for past performance, and for someone to offer guidance to the MD on company decisions etc, so dont have any financial involement in the company at all.
Anyhow, Ive got no reason at all to dis-trust the MD, but the last two days he's been going through and filling out the P35 Employers Annual Return form, which details all Income tax payments and National Insurance Contributions that the company has made throughout the last financial year, and needs to be in by Monday. The thing is, he is out of the office today, and has plonked the completed form on my desk, with a note on it saying "Can you sign this and send it off please".
I am a cheque signatory and assume I am legally allowed to sign this kind of document as a director, but I havent got a clue whats in it, or what responsibility I take on if I do sign it, and so feel I shouldnt sign it as by doing so I am saying that all the details are correct and truely stated, which I can't say as I havent been involved with the accounts etc.
The slightly concerning thing is, it would have been quicker for the MD to have signed it and just put it on my desk to post, rather than writing out a note asking me to sign it.
What do you think guys, do I challenge him and risk p1ssing him off, or just sign it as it won't be put personally on me anyway?
thanks. Chris
If you are a director then you have authority to sign it, and equal responsibility for it even if you dont, so you might aswell
Before you rush to worry, are you sure you're not just required to sign as a co-director (just sent ours in, the whole board was told it would be advisible to co-sign by our accountant) ?
You could ask your local IR office if you're concerned about your liabilities or call 020 7667 4001 the IR helpline. They won't insist on names etc. if you emphasise your concerns.
Welcome to PH by the way
>> Edited by jaydee on Thursday 15th May 14:47
You could ask your local IR office if you're concerned about your liabilities or call 020 7667 4001 the IR helpline. They won't insist on names etc. if you emphasise your concerns.
Welcome to PH by the way
>> Edited by jaydee on Thursday 15th May 14:47
I'm not an expert on Company Law, but I would have thought that seeing as you are a director you become "responsible" for the running of the company and are therefore the one to take the responsiblity when things go wrong/the law is broken.
just sign it as it won't be put personally on me anyway?
One of the golden rules, is never sign anything if you don't know what you are signing. As you cannot claim negligence if things go horribly wrong because it is your duty as a director to be aware of company dealings and goings on.
I'm sure that your boss just wanted you to sign it and that there is nothing shady going on. Just be aware of the consiquences if there is, as it will be your signiture approving anything that has been hidden in the documents.
Cant get through on the above number, engaged, not suprising at this time of year I guess!
Anyway, Ive spoken to the MD and I think I had my wires crossed slightly. Evidently he didnt fill it out himself, it was done by the accountants, and he forgot to sign it before he left yesterday, so called in and got someone to put it on my desk with a note on it, so becomes a little clearer now!
As others have said, I am partially responsible anyway being a director, so rather than cause major friction I am going to sign it and get it in the post.
thanks for the advice. Chris
Anyway, Ive spoken to the MD and I think I had my wires crossed slightly. Evidently he didnt fill it out himself, it was done by the accountants, and he forgot to sign it before he left yesterday, so called in and got someone to put it on my desk with a note on it, so becomes a little clearer now!
As others have said, I am partially responsible anyway being a director, so rather than cause major friction I am going to sign it and get it in the post.
thanks for the advice. Chris
I'm a director of a little company (only 8 employees). The MD founded and owns all the company, and I recently became a non shareholding director mainly for reward for past performance, and for someone to offer guidance to the MD on company decisions etc, so dont have any financial involement in the company at all.
Apart from 'kudos', this sounds mad. Being a director is all liability, and if you have no direct financial benefits, I wouldn't do it at all.
(As a director of two companies, but shareholder of both, and having just sent off our P35 too
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