A Company Limited by shares is an ideal format for a small &
medium size business.
Thousands of self-employed professionals are discovering the advanges
of changing to a Limited Company. So they can not only protect their
personal assets, but can also save thousands of pounds on Income
Tax. |
Companies Limited by Guarantee are not set up to make a profit,
but are suitable for voluntary organisations for promotion of
education, cultural, arts and suports. The structure protects
the voluntory board members from personal liabilities when an
organisation goes down.
In case of company liqudations, its board members are liable only
for the amount guanteed, normally £1 or £5.
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Unlimited companies are not so popular, as the name says, that its
directors are liable for an unlimited losses if the company goes
down. But there are certainly some advantages, as Frank Selkirk
argues.
No need to send to Companies House an end of year Balance Sheet
and most other statutory returns. So Keep your finances private,
from competitors and others. But enjoy the same tax benefits.
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A PLC (Public Limited Company) has access to capital
markets and can offer its shares for sale to the public through
a recognised stock exchange.
It can also advertise offering any of its securities for sale to
the public. In contrast, a private company may not offer to the
public any shares in itself.
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They
are most commonly used for residential flats.
When there are 2 or more flats/apartments in a
property, each flat sold on long lease (normally 99 year), under
the 1993 Act, Leaseholders can buy the freehold from the landlord.
It is best to setup a limited company to own & manage the whole
property. |
There
are many small offshore isles/countries, sometimes called 'Tax
Havens', in which many people set up their companies. This
is normally done for tax planning purposes.
Our Offshore section will help you not only in setting up a company
but in tax planning and other essential details.
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