In 2026, the rules for managing company directors have undergone the most significant shift in a generation due to the Economic Crime and Corporate Transparency Act (ECCTA) . The "nature" of being a director now requires a mandatory digital link between your physical identity and the company record.

For anyone establishing a private company limited by shares in the UK, understanding the role of a company director is essential. Directors are responsible for managing the company, making strategic decisions, and ensuring the business complies with UK company law and Companies House requirements. This guide explains the appointment of directors, director resignation, director removal, and the legal duties of directors under the Companies Act 2006.

Directors’ Powers and Duties Under the Companies Act 2006

Under the Companies Act 2006, company directors are responsible for the management of the company’s business and affairs, and they owe fiduciary and statutory duties to the company. These duties are set out in Sections 171–177 of the Companies Act 2006 and are owed to the company as a separate legal entity, not directly to individual shareholders.

Directors are responsible for making strategic and operational decisions, managing company resources, and ensuring the company complies with UK company law and Companies House requirements. While directors manage the company, their powers are subject to the company’s articles of association, which act as the company’s internal rulebook.

In most UK companies, directors have the power to appoint new directors, typically under the articles of association. However, shareholders retain the statutory right to remove a director under Section 168 of the Companies Act 2006 by passing an ordinary resolution. This creates a balance of power in which directors manage the company, but shareholders retain ultimate control over board composition.

Summary – Directors vs Shareholders' Powers

Director Appointment in the UK

The appointment of a director is a key step in forming and managing a UK limited company. Director appointments are governed by the Companies Act 2006 and the company’s articles of association. Directors may be appointed either during company formation or after incorporation by shareholder or board resolution.

In practice, the company must notify Companies House of the appointment using Form AP01, and the appointment must be filed within 14 days. Under the Economic Crime and Corporate Transparency Act (ECCTA) , new directors must also complete identity verification (IDV) before their appointment can be registered.

For overseas business owners, appointing a UK resident director can provide a local presence, help with compliance, and improve business credibility when dealing with UK banks, partners, and regulators.

Director Resignation

A director's resignation occurs when a director voluntarily steps down from their position. In the UK, a director can resign by submitting a written notice to the company. The company must then notify Companies House by filing Form TM01 (Termination of Appointment) within 14 days of the resignation.

It is important to note that every UK company must always have at least one natural person director. If a company has only one director, that director cannot resign until another director has been appointed.

Failure to notify Companies House of a director’s resignation on time may result in penalties and incorrect public records.

Director Removal by Shareholders

The removal of a director is governed by Section 168 of the Companies Act 2006. Shareholders can remove a director by passing an ordinary resolution, even if the director has an employment contract.

The legal process includes:

• Shareholders must give Special Notice (at least 28 days) of the intention to remove a director.
• The director has the right to make written representations and speak at the general meeting.
• Shareholders vote on the ordinary resolution to remove the director.
• The company must notify Companies House and update the director records.

This process ensures fairness and protects both the company and the director’s legal rights.

Directors’ Duties Under the Companies Act 2006

Under the Companies Act 2006, directors have statutory duties to the company. The main director's duties include:

1. Duty to Act Within Powers – Directors must follow the company’s constitution and articles of association.
2. Duty to Promote the Success of the Company – Directors must act in good faith and in the best interests of the company and its shareholders.
3. Duty to Exercise Independent Judgment – Directors must make independent decisions and not be improperly influenced by others.
4. Duty to Exercise Reasonable Care, Skill, and Diligence – Directors must perform their role competently and responsibly based on their knowledge and experience.
5. Duty to Avoid Conflicts of Interest – Directors must avoid situations where personal interests conflict with company interests.
6. Duty Not to Accept Benefits from Third Parties – Directors must not accept benefits that could influence their decisions.
7. Duty to Declare Interest in a Transaction – Directors must declare any personal interest in company transactions.

Failure to comply with these director duties can result in personal liability, fines, and director disqualification.

Summary

Understanding the appointment, resignation, and removal of directors is essential for anyone running or forming a UK private limited company. Companies must file Form AP01 for appointments and Form TM01 for resignations, and director removals must follow Section 168 of the Companies Act 2006. Directors must also comply with their legal duties and, under new ECCTA rules, complete identity verification before acting as a director.

1. Director Appointment (The "Verification-First" Rule)

As of November 18, 2025, you can no longer simply file a form to become a director. You must complete Identity Verification (IDV) before the appointment is valid.

• The Personal Code: Once you verify your ID (via the GOV.UK ID Check app or an ACSP), you receive an 11-character Companies House Personal Code.
• Form AP01: This digital form notifies Companies House of your appointment. It must include your Personal Code. If the code is missing or doesn't match your name, the filing is automatically rejected.
• The 14-Day Window: You must notify Companies House within 14 days of the appointment date.

2. Resignation and Removal

Removing a director involves two distinct paths: a voluntary exit or a forced removal by shareholders.

Resignation (Voluntary)

• The Form: You file Form TM01 (Termination of Appointment).
• Process: The director submits a formal letter of resignation to the board. Once the board accepts, the company files the TM01 online.
• Important: A company must always have at least one "natural person" (a human, not a corporation) as a director. You cannot resign if you are the last human director until a replacement is appointed.

Removal (Involuntary)

• Ordinary Resolution: Under Section 168 of the Companies Act 2006, shareholders can remove a director regardless of what their employment contract says.
• Special Notice: Shareholders must give "Special Notice" (at least 28 days) to the company of their intent to propose a resolution to remove the director.
• The Director's Right: The director has the legal right to "make representations" (defend themselves) in writing and speak at the general meeting before the vote.

3. The 2026 "Compliance Trap"

• Statutory Registers: Since late 2025, companies are no longer required to keep their own internal "Register of Directors" at their office. Companies House now acts as the sole "Central Register."
• Acting without IDV: If you act as a director (signing contracts, etc.) without having completed your Identity Verification, you are committing a criminal offence. This can lead to unlimited fines and personal liability for company debts.

Changing or Amending Director Details in the UK – Directors’ Legal Duties

In the UK, company directors have a legal duty to ensure that their personal details recorded at Companies House are accurate and up to date. Officially changing or amending director details is not just an administrative task — it is a legal obligation under the Companies Act 2006. Keeping accurate director records ensures company compliance, improves transparency, and protects the company and its officers from penalties.

Directors must notify Companies House when there are changes to their name, service address, residential address, nationality, occupation, or other registered details. Failure to update director information can result in fines, penalties, and compliance issues for both the director and the company.

The Importance of Accurate Director Records

Maintaining accurate Companies House director records is essential for several reasons:

Regulatory Compliance – UK companies are legally required to maintain and update director information. Failure to update records may result in penalties or rejected filings.

Transparency and Corporate Governance – Accurate director information helps maintain transparency with shareholders, banks, investors, and business partners.

Company Reputation – Companies that keep their statutory records and Companies House filings up to date demonstrate professionalism and good corporate governance.

Legal Protection – Keeping accurate director records helps protect directors from potential legal disputes and compliance investigations.

How to Change or Amend Director Details – Step-by-Step

When a director needs to change their details, the company must follow the correct Companies House filing procedure.

Step 1 – Review Company Records and Articles of Association

Check the company’s articles of association and internal records to confirm the correct procedure for recording director changes.

Step 2 – Record the Change Internally

The change should be recorded in the board meeting minutes or in internal company records to properly document the amendment.

Step 3 – Notify Companies House

The company must notify Companies House using the correct form:

These changes must usually be filed within 14 days of the change.

Step 4 – Update Statutory Records

The company must update internal statutory registers and company records (if maintained).

Step 5 – Inform Relevant Parties

Banks, accountants, business partners, and stakeholders may also need to be notified of the change.

Director Details That Must Be Kept Updated

Companies House requires the following director details to be accurate and current:

• Full legal name
• Service address (public record)
• Residential address (private record)
• Nationality
• Occupation
• Date of birth
• Identity Verification status (under ECCTA rules)

Under the Economic Crime and Corporate Transparency Act (ECCTA), directors must also ensure their identity verification (IDV) status is completed and kept up to date.

Summary

Changing or amending director details at Companies House is a legal responsibility of both the company and the director. Companies must file Form CH01 to update director information and ensure records are updated within 14 days. Keeping director details accurate helps maintain UK company compliance, supports good corporate governance, and avoids penalties from Companies House.

FAQ – Changing Director Details at Companies House

How do I change a director’s address at Companies House?

To change a director’s service address or residential address, the company must file Form CH01 with Companies House. This can be submitted online or by post. The change must be reported within 14 days, and the service address will appear on the public register, while the residential address remains private.

What is Form CH01?

Form CH01 is the Companies House form used to update or amend a director’s personal details. This includes changes to a director’s name, service address, residential address, nationality, occupation, or other registered information.

How long do you have to update Companies House about director changes?

Companies must notify Companies House of any changes to director details within 14 days of the change. Failure to update director information on time may result in penalties and the company being in breach of the Companies Act 2006.

Can a director change their own details at Companies House?

A director cannot usually update their details personally unless authorised to file on behalf of the company. Typically, the company, company secretary, accountant, or authorised agent submits Form CH01 to update director details.

Do I need to inform Companies House if a director changes their name?

Yes, if a director legally changes their name, the company must notify Companies House using Form CH01 and provide supporting documentation if requested.

What director details must be kept up to date?

The following director details must be accurate and kept up to date at Companies House:

• Full name
• Service address
• Residential address
• Nationality
• Occupation
• Date of birth
• Identity verification status (under ECCTA rules)

What happens if director details are not updated?

If director details are not updated, the company may face fines, penalties, rejected filings, and compliance issues. Keeping accurate records is a legal requirement under the Companies Act 2006.

Can Coddan help change director details?

Yes, Coddan can prepare and file Form CH01, update Companies House records, and ensure all director details are correctly amended and compliant with UK company law.

Can One Director Remove Another Director in a UK Private Company?

This is a common question for startups, small businesses, and private companies limited by shares in the UK. The short answer is no — one director cannot usually remove another director on their own. In most UK companies, only the shareholders have the legal power to remove a director, and this must be done following the Companies Act 2006.

Understanding the Role of Directors

Company directors are responsible for managing the company, making strategic decisions, and ensuring the company complies with UK company law and Companies House requirements. A board of directors may include executive directors (involved in daily operations) and non-executive directors (providing oversight and independent judgment).

Directors must act in accordance with the Companies Act 2006 director duties, including acting in the best interests of the company and exercising reasonable care and skill.

Who Can Remove a Director?

Under Section 168 of the Companies Act 2006, shareholders can remove a director by ordinary resolution (more than 50% of the vote). This means:

• A director cannot usually remove another director alone
• The board of directors cannot remove a director unless the articles of association allow it
• In most cases, shareholders must vote to remove the director

So, the power to remove a director normally sits with shareholders, not other directors.

Legal Procedure to Remove a Director (UK)

The correct legal process must be followed:

1. Shareholders must give Special Notice (at least 28 days) to the company.
2. The company must notify the director about the proposed removal.
3. The director has the right to make written representations and speak at the general meeting.
4. Shareholders vote on an ordinary resolution to remove the director.
5. The company must file the update at Companies House (usually Form TM01) .

Failure to follow the correct procedure can make the removal invalid and may lead to legal disputes.

Can Directors Remove a Director Under the Articles of Association?

Some companies include provisions in their articles of association allowing directors to remove another director, for example:

• If the director resigns
• If the director becomes bankrupt
• If the director becomes disqualified
• If the director is absent from board meetings for a certain period
• If there are mental or medical incapacity issues

However, this depends entirely on the company’s articles of association.

Summary

• One director cannot usually remove another director on their own.
• In the UK, shareholders remove directors using an ordinary resolution under Section 168 of the Companies Act 2006.
• The director must be given 28 days’ special notice and the right to defend themselves.
• The company must notify Companies House after the removal.
• Always check the articles of association for specific company rules.

Can a Person with Significant Control (PSC) Remove a Director in a UK Company?

For startups, small businesses, and private limited companies in the UK, understanding the role of a Person with Significant Control (PSC) is essential, especially when it comes to removing a company director. Many business owners assume that a PSC can remove a director directly, but under UK company law, the process is more structured.

What Is a Person with Significant Control (PSC)?

A Person with Significant Control (PSC) is an individual or entity that has significant influence or control over a UK company. A PSC is usually someone who meets one or more of the following conditions:

• Owns more than 25% of company shares
• Holds more than 25% of voting rights
• Has the right to appoint or remove a majority of directors
• Has significant influence or control over the company

PSC details must be recorded and filed at Companies House as part of the PSC register.

Can a PSC Remove a Director?

A PSC cannot automatically remove a director on their own unless they also have majority voting rights or the legal right to appoint and remove directors under the articles of association or a shareholders’ agreement.

In most UK companies, a director is removed under Section 168 of the Companies Act 2006, which requires:

• An ordinary resolution (more than 50% shareholder vote)
• Special notice of at least 28 days
• The director must be given the right to make representations
• The company must notify Companies House after removal

So, a PSC can remove a director only if they control enough voting shares to pass an ordinary resolution, or if the articles of association give them the power to appoint and remove directors.

When a PSC Can Remove a Director

A PSC may be able to remove a director if they:

• Own more than 50% of the shares
• Control more than 50% of voting rights
• Have the right to appoint/remove directors under the articles
• Are the majority shareholder

If a PSC owns 25%–50%, they usually cannot remove a director alone, but they can influence other shareholders and propose a vote.

Summary

A Person with Significant Control (PSC) has significant influence over a company, but cannot remove a director alone unless they have majority voting power or specific rights in the articles of association. In most cases, removing a director requires an ordinary resolution under the Companies Act 2006 and proper legal procedure.

Directors’ Duties Under the Companies Act 2006 (Sections 171–177)

The Companies Act 2006 is the foundation of UK company law and sets out the legal duties of company directors. These duties ensure that directors act in the best interests of the company, exercise proper governance, and manage the company responsibly. Directors owe these duties to the company as a legal entity, not directly to shareholders, employees, or creditors.

The Act sets out seven general duties of directors in Sections 171–177, and failure to comply can result in fines, director disqualification, personal liability, or criminal penalties in serious cases.

Understanding these duties is essential before becoming a director and throughout your time in office.

The Seven General Duties of Directors

1. Duty to Act Within Powers (Section 171)

Directors must act in accordance with the company’s constitution, including the articles of association and any shareholder agreements. Directors must only use their powers for the purposes for which they were given and must not exceed their authority.

Example: Issuing shares only if authorised by the articles and shareholders.

2. Duty to Promote the Success of the Company (Section 172)

This is one of the most important director duties. Directors must act in good faith and in a way that is most likely to promote the success of the company for the benefit of its members (shareholders) as a whole.

Directors must consider:

• Long-term consequences of decisions
• Interests of employees
• Relationships with suppliers and customers
• Impact on the community and environment
• Company reputation and business conduct
• Fairness between shareholders

This is often referred to as the “Section 172 duty”.

3. Duty to Exercise Independent Judgment (Section 173)

Directors must make independent decisions and not simply follow instructions from shareholders, business partners, or other directors. While professional advice can be taken, the final decision must be the director’s own.

4. Duty to Exercise Reasonable Care, Skill, and Diligence (Section 174)

Directors must perform their duties with reasonable care, skill, and diligence. This duty is judged using both:

• Objective standard – What a reasonably competent director would do
• Subjective standard – The actual skill and experience of that director

This means experienced directors are held to a higher standard.

5. Duty to Avoid Conflicts of Interest (Section 175)

Directors must avoid situations where their personal interests conflict with the interests of the company. This includes business opportunities, property, information, or other interests.

Conflicts must be declared and authorised by the board or shareholders.

6. Duty Not to Accept Benefits from Third Parties (Section 176)

Directors must not accept bribes, gifts, commissions, or benefits from third parties that could create a conflict of interest or influence their decision-making.

Reasonable corporate hospitality is allowed, but it must not influence the director’s independence.

7. Duty to Declare Interest in a Transaction (Section 177)

If a director has any personal interest in a company transaction, they must declare the nature and extent of that interest to the board before the company enters into the transaction.

This commonly applies where a director:

• Owns another company doing business with the company
• Is a shareholder in a supplier company
• Receives commission from a transaction

Consequences of Breaching Directors’ Duties

If a director breaches their duties, the consequences can be serious:

These claims are usually brought by the company, not individual shareholders.

How Directors Can Protect Themselves

Directors can reduce risk by following good corporate governance practices:

• Understand the articles of association and shareholder agreements
• Keep proper board minutes and resolutions
• Seek legal or accountant advice when unsure
• Declare conflicts of interest early
• Ensure decisions are made in good faith and for the benefit of the company
• Maintain proper accounting and statutory records
• Complete Companies House identity verification (IDV) and compliance filings

Summary

The seven directors’ duties under the Companies Act 2006 form the legal foundation of corporate governance in the UK. Directors must act within their powers, promote the success of the company, exercise independent judgment, act with reasonable care and skill, avoid conflicts of interest, refuse improper benefits, and declare interests in transactions. Failure to comply can result in personal liability, fines, or disqualification.

How to Strengthen Leadership Through Director Duties

Strong leadership is essential for the success and stability of any company. In the UK, company directors play a critical role not only in managing business operations but also in ensuring legal compliance, corporate governance, and strategic direction. Understanding and properly executing director duties helps strengthen leadership, improve decision-making, and ensure long-term business growth.

Coddan supports companies and directors by providing professional guidance, director appointment services, and compliance support to help businesses build strong and compliant leadership structures.

What Are Director Duties in the UK?

Under the Companies Act, directors have legal duties that include:

• Acting in the best interests of the company
• Exercising independent judgment
• Avoiding conflicts of interest
• Maintaining accurate company records
• Filing required documents with Companies House
• Ensuring accounts and confirmation statements are filed on time
• Reporting changes in company structure

Strong leadership begins with understanding and fulfilling these responsibilities.

If leadership changes are part of a broader restructuring or ownership change, you should also review
Change of Control and Corporate Restructuring, where director responsibilities often expand during company transitions.

How Director Duties Strengthen Leadership

1. Better Corporate Governance
Directors who understand their legal duties help maintain proper governance and compliance.

2. Improved Strategic Decision-Making
Strong directors guide the company’s long-term strategy and growth.

3. Compliance and Risk Management
Directors ensure filings, records, and legal obligations are properly handled.

This may include appointing qualified directors when needed. For example:

• If you need a UK-based director for an online business:
  Assign a Local Director for the UK for the Businesses of eBay, Amazon, TikTok, and Etsy
• If appointing a resident director through a regulated provider:
  How to Appoint a UK Resident Director Effectively via ACSP Provider
• To understand the benefits of resident director services:
  How UK Resident Director Services Benefit Non-Residents

Director Responsibilities and Legal Compliance

Directors are responsible for ensuring that all company changes are properly reported and recorded. This includes:

Director Identity Verification
Under new regulations, directors must complete identity verification:
ECCTA 2026 ID Verification Service

Appointing Directors
If a new director is required to strengthen leadership:
Step-by-Step Guide: How to Appoint a Dedicated Director in the UK
Step-by-Step Guide to Becoming Appointed as a Company Director
Why Choose Coddan for Electronically Filing Form AP01?

Corporate Directors
If a company appoints another company as a director:
Steps to Appoint a Corporate Director in the UK Using Form AP02

Removing or Replacing Directors
If leadership restructuring is required:
How to Simplify Director Removal (Form TM01) for Your Business

Director Duties and Company Ownership Changes

Leadership and ownership are often closely connected. Directors are responsible for ensuring ownership changes are properly documented and reported. This may include:

• Form SH01 Explained: Allotment of Shares Made Easy – when issuing new shares
• Form SH02 – Change of Share Capital Expert Filing Service – when restructuring share capital
• Form J30 the Stock Transfer: Fast and Simple Submission J30 Form – when transferring fully paid shares
• Form J10 the Stock Transfer: Quick and Easy Submission J10 Form – when transferring partly paid shares
• e-Filing the Form SH03 (Return of Purchase of Own Shares) – when the company buys back shares

Handling these filings correctly is a key part of director responsibilities.

Why Strong Directors Are Important for Business Growth

Strong directors help companies:

• Maintain compliance
• Avoid penalties
• Attract investors
• Improve governance
• Manage restructuring
• Ensure accurate reporting
• Support business growth

Good leadership ensures the company operates efficiently and legally.

Why Choose Coddan for Director Services?

✔ Director Appointment Services
We help appoint UK resident, nominee, and corporate directors.

✔ ECCTA Identity Verification
We ensure directors meet identity verification requirements.

✔ Corporate Compliance Support
We manage Companies House filings and company records.

✔ Corporate Restructuring Support
We assist with ownership and leadership changes.

✔ Support for Non-Residents
We help overseas entrepreneurs manage UK companies.

Strengthen Your Company Leadership Today

Ensure your company leadership is strong, compliant, and structured for growth with Coddan’s professional director services.

• ✔ Director appointment and replacement
• ✔ Identity verification
• ✔ Corporate compliance support

Contact Coddan today to strengthen your company leadership.

UK Company Compliance in 2026 – Hidden ECCTA Traps Most Service Providers Miss

The Economic Crime and Corporate Transparency Act (ECCTA) has significantly changed UK company compliance in 2026. While many service providers focus only on filing Companies House forms, the new regulatory environment has introduced several compliance risks that can lead to criminal liability, penalties, or account suspensions if handled incorrectly.

Below are some of the most important 2026 compliance traps that many UK company service providers fail to explain.

1. Acting as a Director Without Identity Verification Is a Criminal Offence

Under the new Companies House identity verification (IDV) rules, it is now a criminal offence for a person to act as a director before completing identity verification.

Important distinction:

• Filing Form AP01 appoints the director
• But the director cannot legally act until identity verification is completed

Risk:
If a director signs contracts, opens a bank account, or makes board decisions before completing ID verification, they may face:

• Unlimited fines
• Contracts being legally challenged
• Personal liability

This is one of the most serious ECCTA compliance risks in 2026.

2. The End of Most Internal Statutory Registers

For many years, companies were required to maintain internal statutory registers, including:

• Register of Directors
• Register of Directors’ Residential Addresses
• Register of Secretaries

From 18 November 2025, private companies are no longer required to keep these internal registers because Companies House now operates as the central register.

However, one register is still required:

• Register of Members (Shareholders) – This must still be maintained internally by the company.

This means some providers charging for “statutory register maintenance” may be charging for registers that are no longer legally required.

3. The PSC Identity Verification Deadline Trap (2026)

Many providers focus on director identity verification, but forget about People with Significant Control (PSC) who are not directors.

Key 2026 rule:

• PSC identity verification must be completed within 14 days of the PSC verification deadline
• For existing PSCs in 2026, this deadline is linked to their birth month

Example:

• Birth month = March
• Deadline to verify = 14 March 2026
• If not verified → the company is in breach

This “staggered deadline” is a major Companies House compliance risk in 2026.

4. Directors’ Duties Now Include Sustainability and Climate Risk (UK SRS)

Traditionally, directors’ duties were based on the Companies Act 2006, especially Section 172 – Duty to Promote the Success of the Company.

However, under the UK Sustainability Reporting Standards (UK SRS) , environmental and sustainability risks are now increasingly linked to directors’ legal duties, particularly for large companies and growing private companies.

Directors may now face liability for:

• Misleading environmental claims (greenwashing)
• Failure to disclose climate-related financial risks
• Inaccurate strategic reports

This is becoming a new area of director liability in the UK.

5. HMRC AI Cross-Checking Companies House Data

In 2026, HMRC increasingly cross-checks Companies House data with tax records, including:

• National Insurance records
• PAYE records
• VAT registrations
• Director identity verification records

Common risk trigger:

• Different versions of a director’s name across systems
• Example: “Jon Smith” vs “Jonathan Smith”

This can trigger HMRC risk reviews, which may result in:

• VAT registration delays
• VAT number suspension
• Payment platform account freezes (Amazon, Stripe, TikTok Shop, etc.)

Consistency between Companies House, HMRC, and bank records is now critical.

6. The Dormant Company Self Assessment Myth

Many directors believe that if a company is dormant, the director does not need to file a Self Assessment tax return. This is not always correct.

In 2026, HMRC frequently issues a “Notice to Deliver a Tax Return” to directors, especially if:

• The director is non-resident
• The company uses a UK registered office address
• The director is registered at Companies House
• HMRC believes the director may have UK income

Important:
If HMRC issues a Notice to File, the director must submit a Self Assessment tax return, even if:

• The company is dormant
• The director received no income

Penalties for ignoring the notice:

• £100 initial penalty
• Up to £900 after 3 months
• Additional penalties after 6 and 12 months

Summary – 2026 UK Company Compliance Risks

The biggest UK company compliance risks in 2026 include:

• Acting as a director before identity verification
• Missing PSC identity verification deadlines
• Incorrect or inconsistent data between Companies House and HMRC
• Not responding to HMRC Self Assessment notices
• Not understanding new director liability rules
• Paying for statutory registers that are no longer required

The ECCTA has fundamentally changed UK company compliance, and directors must ensure they understand these new rules to avoid penalties, fines, or criminal liability.