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UK- Public Limited

Updated time: Jun 30, 2015 , 12:56 (UTC+08:00)

UK- Public Limited


It should be noted that there are two types of PLC, one whose shares are quoted publicly and listed on an International Stock Exchange; the other operates as a private limited company. The regulations affecting quoted PLC's vary from those covered in this paper and specialist advice must be taken.

Law & Taxation

Type of law is common law

Corporation tax (which includes Capital Gains Tax) is paid by UK companies based upon accounts, which are submitted to the Inland Revenue and the Registrar of Companies at the end of the company's financial year. A company is free to choose its financial year-end. Companies pay corporation tax at the rate of 20% where the net profit before tax does not exceed £300,000.

The rate of Corporation Tax on profits over £1,500,000 is 23%. The main rate of Corporation Tax applies when profits (including ring fence profits) exceed £1,500,000, or where there is no claim to another rate or where another rate does not apply.

The UK system of taxation, subject to conditions, offers commercial opportunities to reduce tax payable for those engaged in international business. Further information is available on request.

Corporate Requirement

Each Uk company must have a Registered Agent and Registered office in the United Kingdom, provided by a licensed service provider

A public company must have at least two directors one of which must be a natural person who may be of any nationality and need not reside in the UK..

A suitably qualified company secretary must be appointed. The company secretary may be a natural person (who may be of any nationality and need not reside in the UK) or a body corporate..

ll UK companies are required to file accounts prepared in statutory form with the Registrar of Companies and the HM Revenue & Customs whether trading or not. These accounts need to include:

  • a directors' report signed by a director or the company secretary;
  • a balance sheet signed by a director;
  • a profit and loss account (or income and expenditure account if the company is not trading for profit);
  • notes to the accounts; and
  • group accounts (if appropriate).

The minimum authorised share capital is £50,000. The issued share capital is £50,000 of which a minimum of £12,500 must be paid up. In the event of liquidation the full £50,000 must be paid.

The normal category of shares are ordinary shares but, subject to the circumstances of the company, they may be preference shares, deferred shares, redeemable shares and shares with or without voting rights.

Our service.

Offshorecompanycorp can incorporate a company with your choice of name and confirm the availability of names in advance. Full due diligenge requirement must be satisfied before we can proceed with incorporation. All company are provided with a complete company kit. We can assist client in obtaining certificates of corporate existence, as well as relevant post incorporation services.

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