Types of Companies

Which Type Of Limited Company do I need?
Most people require a standard private company limited by share capital which is suitable for nearly all types of trading. However, if you are looking to form an association, or simply need another type of company we can still help you. We can form public limited companies limited by shares (PLC), a not for profit company limited by guarantee, a limited liability partnership (LLP) Please see below for the various options. All Companies are tailor made to your requirements.

Private Company Limited by Shares
The most common type of company operating in the UK accounting for over 98% of all companies on the registry, adopts Companies Act 2006 Articles for a ‘Private Company Limited by Share Capital’.

  • Normal commercial trading purposes
  • Can undertake any nature of business having unlimited objects
  • Members have limited liability
  • Can have a sole director and/or a sole shareholder
  • No requirement for a company secretary
  • Can have corporate officer(s) , though at least one officer must be a “real” person

 

Private Company Limited by Guarantee
This is suitable for non profit making entities looking for limited liability status. Generally adopts Companies Act 2006 Articles for a ‘Private Company Limited by guarantee’ or a range of Charities Commission model Articles are also available.

  • Suitable for clubs, membership organisations, sports associations etc
  • Non-profit corporate entity
  • Can apply for charitable status
  • Members have limited liability by guarantee

 

Public Company Limited by Shares (PLC)
This is suitable for larger entities looking for limited liability status whilst wanting a higher public profile. Generally adopts Companies Act 2006 Articles for a ‘Public Company Limited by Share Capital’.

  • Necessary if the company is to trade its shares to the public
  • Members have limited liability
  • High initial capital commitment, minimum £50,000
  • Must have at least two directors and two shareholders
  • PLC’s must appoint a company secretary who is suitably qualified as per the requirements of the Companies Act 2006

 

Limited Liability Partnerships (LLP)
This is suitable for entities looking for limited liability status, but yet retaining their existing individual tax status. Generally adopts Companies Act 2006 provisions yet governed by the LLP Act 2000.

  • Suitable for use as joint venture vehicles
  • Members retain their Schedule D Case I, tax status for their SA Tax return
  • Members have limited liability
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