UK Limited Company

What is a UK Limited company?
• A legal entity in the UK whose shareholders liability is limited by shares (Ltd)
• It is the most common form of privately held company in the UK
• The Company can be registered in England & Wales, Scotland or Northern Ireland.

How is a Limited company incorporated?
• All UK Companies are registered through Companies House. Our company formation process is very simple and is entirely online. All of our incorporation packages include the Companies House filing fee.
• A UK Limited Company's name must be approved by Companies House to enable use of the chosen name. Rapid Companies instantly check that your proposed company name is available and acceptable to make sure you can use it immediately.

What are the annual requirements?
​
• A UK Limited company is required to file an annual tax return ('corporation' tax returns) with Her Majesty’s Revenue and Customs (HMRC).
• The Company Directors are also required to file a Confirmation Statement with Companies House, which gives a snapshot of general information about the company. If you choose our Company Secretarial Service we will take care of this for you.

Limited Liability Partnership

What is a Limited Liability Partnership (LLP)?

A LLP is a separate legal entity in its own right. The LLP itself will be liable for the full extent of its assets, whilst the liability of the partners of the LLP will be limited.

What are the legal requirements of an LLP?

A UK LLP needs to have a minimum of two Partners. These Partners can be Corporate entities or real people or a combination of same. The LLP must have the intention to make profit in a lawful trade. There is no limit to the number of partners that can join an LLP and they do not need to be UK resident. The Registered Office of the company must be based in the UK and cannot be a PO Box or otherwise.

Who is responsible for the LLP?

As with a private limited company or a corporation, member/partners in LLP's cannot, in the absence of fraud or wrongful trading, lose more than they invest.

​ How is an LLP taxed?

Each partner/member will have to register with HMRC for Self Assessment and complete a tax return each year, then pay Income Tax and National Insurance on their personal income.

​