A Private Limited Company is distinct in law from its shareholders and directors and enjoys limited liability.
Directors are not responsible for the debts of the company except where a personal guarantee has been given ( for example to a bank) or where a director commits fraud. Shareholders are only liable for the amount due on any unpaid shares.
The company is widely empowered to engage in any legal business worldwide.
The company requires a minimum of one director who can be of any residency or Nationality; corporate directors are allowed as long as there is one natural person as a director.
A company secretary is optional.
It must have a registered office in England or Wales, which we can provide. If it is incorporated in Scotland it must have a registered office in Scotland which we can provide if required.
The company must end in Ltd or Limited
The company must file an annual return and accounts each year, these are on public record.
The company enjoys protection of its name.
The company pays corporation tax on its profits and its employees and directors are remunerated under P.A.Y.E (Pay As You Earn), shareholders are paid dividends.
Corporate shareholders are allowed and there is no withholding tax on the remittance of dividends overseas.
On stationery it must show the full company name, registration number and registered office. You do not have to show the directors names, but if you show one you must show them all (except in the text of a letter as a signatory)
If a UK company is managed and controlled from a country with which the UK has signed a double taxation treaty it may be classed as non-resident for tax purposes on non UK sourced income.
We can incorporate a company within 2 hours and we also provide the optional service of electronically appointing directors.