The United Kingdom (UK) offers several company formation vehicles, used for a variety of business endeavors. The Limited Liability Company (PLC) is the most widely used and gives individuals and companies the most flexibility out of all the other company types.
A UK Limited Liability Company is a separate legal entity that remains distinct from its members and directors. All individuals and entities affiliated with a UK LLC have limited liability that protects them from being held personally liable for the debts incurred on the part of the company; making the maximum liability limited to the amount of capital or issued shares.
Key Features of UK Limited Liability Company
|
UK LLC |
Corporate Details |
|
General |
|
|
Limited Liability Company |
|
Yes |
|
Yes |
|
Yes |
|
Share capital or equivalent |
|
|
GBP, £ |
|
Any |
|
GBP 1 |
|
GBP 1,000 |
|
No |
|
No |
|
Directors |
|
|
One |
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No |
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Yes |
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Anywhere |
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Yes *(but needs at least one individual) |
|
Shareholders |
|
|
One |
|
Yes |
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Yes |
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Anywhere |
|
Company Secretary |
|
|
No |
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No |
|
Accounts |
|
|
Yes |
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Yes *(small companies are exempt) |
|
Yes |
|
Yes |
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Other |
|
|
Yes |
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Yes (subject to approval be Inland Revenue) |
Tax treatment
Corporate tax is 19%.
Duration for set up of the company
One week.
Distinctive Advantages of UK Limited Liability Company
- Single member ownership is available
- Nominee Services are permissible
- The UK has numerous Double Taxation treaties
- Access to various trade markets in the European Union (EU)
- A Limited Liability company has a separate legal existence from its members
- A Limited company legitimizes itself for many business activities
- A UK Limited Liability company has a strong and structured shareholder conflict resolution procedure in place
- Business expenses can be claimed against tax
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.