Depending on your business requirements will depend on which type of company you wish to set up. To help you decide which type of company you require, here is some information on each company we offer:
LTD (Limited) Company
This is the most popular UK Company type as it protects the Shareholder’s personal interests, should the company end up in difficulties, provided they do not give any personal guarantees. As the company is a separate legal entity from the people running the company they will be protected from personal liability for the company’s debts.
LLP (Limited Liability Partnership)
An LLP is a partnership which is registered with Partners / Members, the Partners / Members are the owners of the partnership. This type of partnership is commonly used by Solicitors and Accountants as each partner will have protected limited liability. The partners do not have any responsibility for the partnerships debts. The members of the LLP can agree between themselves how the partnership will be managed and how the capital will be owned and profits shared. These arrangements can be changed simply by an agreement between the members at any time.
LTD (Limited) by Guarantee
Limited by Guarantee Companies are commonly used for charities or companies making no profit. All profits are kept within the company, and are solely used to benefit the company.
PLC Company (Public Limited Company)
This type of company is appropriate for larger businesses where shares are intended to be available to the general public. This is the only type of company which may sell their shares to the public.
Flat Management Company / Property Management Company
A Property Management Company is a particular type of company which will manage a property that has been divided into separate units, each unit being owned separately. In many cases the most important use of the company is to hold the title of the overall property and manage the communal areas of the property.
