GET INFORMED BEFORE CREATING YOUR LTD IN THE UK
Aggiornato il: 9 dic 2020
What are the main types of companies in England?
The main types of companies in England are the following:
Private Limited Company (Ltd);
Public Limited Company (Plc).
Limited Liability Partnership (LLP);
The Private Limited Company or Ltd is the most common type of company in England for small and medium-sized companies. The investments of a Ltd are represented by shares (SHARES). Shareholders can be individuals or other companies. The appointment of an administrator, even if not resident in England, is sufficient.
The Public Limited Company or Plc is the most common type of company for large companies or companies with a broad shareholding structure. The minimum capital for the establishment of a Plc is 50,000 pounds (or the equivalent in euros or other currency). Shareholders can be individuals or other companies. The appointment of an administrator, even if not resident in England, is sufficient.
The Limited Liability Partnership or LLP (not recommended) is a limited liability partnership. Equity investments represented by shares. The presence of at least two partners (so-called general partner) is required. The statute of the LLPs (partnership agreement) constitutes a private document and is therefore not published in the Companies House. The LLP does not find an equivalent in Italy. In fact, our legal system does not allow the establishment of limited liability partnerships.
The LLP - unlike the Ltd and the Plc - is subject to the so-called taxation for transparency. Therefore, the income produced by the LLP is taxed directly by the shareholders and not by the company. For example, in the case of an LLP consisting of two persons not fiscally resident in England, the income of the company will be taxed exclusively by the members in their countries of residence, and no tax will be payable by the LLP to the English tax authorities.
The Unlimited Company (absolutely not recommended) is a partnership (comparable to our general partnership) in which, unlike the LLP, each shareholder is liable indefinitely with his own personal assets for the social obligations. The Unlimited Company - like the LLP - is subject to the tax regime for transparency.