All You Want To Know About Company Formation Uk
If you are thinking of expanding your business in the UK, you have to form a company first. This necessitates some documentation, and hence, the applicant must know the dos and don’ts he will have to take care. The information given below is taken from the rules and regulations laid by Companies House, the authority that looks after company affairs in the UK.
Types of companies
According to Companies House, there are four main types of companies in the UK: Private Company limited by shares, Private Company limited by guarantee, Private unlimited company, and Public limited company (PLC). Members’ liability in the first type of company is limited to the amount unpaid on shares they hold.
In the second type of companies, members’ liability is limited to the amount they have agreed to contribute to the company’s assets if it is wound up. In case of the third type of companies, shares may be offered for sale to the general public and members’ liability is limited to the amount unpaid on shares held by them.
Who are eligible for company formation UK?
The Companies Act in the UK generally allows one or more persons to form a company for any legitimate purpose by subscribing to its memorandum of association. By the word “person” company law refers to both individuals and companies. However, it also says that a public company or an unlimited company must have at least two subscribers.
How to form a company?
Company Formation Uk is very easy. There are ready-made companies available from company formation agents. Names and addresses of such agents appear in the Yellow Pages. However, if you incorporate a company yourself, you will have to fill up forms and send some documents to the Companies House. You will also need to pay the registration fee to the Registrar of Companies
Graff is an experienced writer and an expert on company incorporation laws and policies in the UK. Presently he is been writing on topics like company formation and online business solutions for companies House Online. For more information please visit Company Formation Uk
