Company Registration - Company Types | Murphy Thompson Moore LLP

Company Types

At Murphy Thompson Moore LLP, we have the expertise to register any type of UK company. UK companies are registered at Companies House using our directly linked bespoke software.

This is a list of the most frequently registered categories, followed by a brief explanation of what each company type means and its requirements.

Limited By Shares

This company has a Share Capital and the liability of each member is limited to the amount, if any, unpaid on their share(s). A private company cannot offer its shares for sale to the general public.

  • Statutory Accounts must be prepared and filed
  • An Annual Return must be filed with Companies House confirming the structure of the company

Limited by Guarantee

This company does not have a share capital and its members are Guarantors rather than Shareholders. The members liability is limited to the amount they agree to contribute to the company's assets if it is wound up. This type of company is particularly suited to Charitable and Not For Profit organisations.

  • Members must each guarantee a minimum amount of £1
  • The statutory requirements are similar to a company limited by shares

Limited Liability Partnership(LLP)

LLP offers the individuals who own it, the benefits of operating as a partnership but without the protection of limited liability. LLP's combine the benefits of corporate status and unlimited capacity, with the protection of limited liability for members and be taxed as a partnership. There must be a minimum of two persons carrying out business with a view to profit. Members will enter into an LLP Agreement which is not held on the public record.

  • Each Member pays tax on their share of the profits
  • The statutory requirements are similar to a regular limited company

Public Limited Company(PLC)

A public company has a Share Capital and limits the liability of each member to the amount they have invested. It may offer its shares to the general public and may be quoted on the Stock Exchange.

  • Must have PLC at the end of the name
  • Minimum Share Capital £50,000 of which 25% must be paid prior to obtaining a Trading Certificate
  • Minimum of 2 Directors
  • Must have a qualified Company Secretary
  • An Annual General Meeting must be held to present and approve the company accounts and elect directors, etc.

Right to Manage Company(RTM)

RTM companies were introduced under the Commonhold and Leasehold Reform Act 2002. They are private companies Limited by Guarantee, enabling leaseholders in blocks of apartments to take over the management of their building. There are constitutional rules which apply to this type of company. Please note RTM's do not exist in Scotland or Northern Ireland. The Department of Communities and Local Government is responsible for RTM companies in England. Murphy Thompson Moore have particular expertise with this type of company.

 

  • The company name must end with RTM Company Limited
  • Bespoke Articles are required 

Community Interest Company(CIC)

A Community Interest Company is a limited company designed for people who wish to carry out activity intended to benefit the community. A CIC cannot be a charity. CIC's are only registered after the CIC Regulator has approved the application. The regulator also has a continuing monitoring and enforcement role. CIC's are a rare breed and can be complicated to register and require bespoke documentation. They cannot be registered electronically. Murphy Thompson Moore LLP will guide and help you through this process.

  • The company name must end with Community Interest Company or CIC

Groups & Associations

Formation of group or associated companies have specific requirements and can have important tax consequences for the associated companies.
MTM can assist with developing the corporate structure most suited to your (or your clients) requirements. We can liaise with Companies House to take account of any similar names or sensitive word issues.
We can advise you on the most suitable timing and the Registrar's requirements to ensure successful formation of the required group structure.
We will provide detailed advice on the appropriate capital structure and make you aware of any regulatory requirements affecting your proposal.
 

Further details for any type of UK company can be had by contacting us on 0161 835 2080 or emailing srt [at] mtmlegal.co.uk

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