Company registration in UK

LTD IN UK – LP IN SCOTLAND

UNITED KINGDOM: LTD REGISTRATION IN THE UNITED KINGDOM

UNITED KINGDOM LLP and SCOTLAND LP: COMPANY REGISTRATION

LTD REGISTRATION IN UK – LIMITED LIABILITY COMPANY – LTD

Limited Liability Company is an organization that is a separate legal structure with its own property. The assets of the company are separate from your personal finances.

Any profit it makes is owned by the company after the company pays corporate tax. The firm can divide its profits.

LTD OWNERSHIP IN UK

Every Limited Liability Company has its founders. Founders are people or organizations that own the shares of the company.

The directors are responsible for the management of the company. Directors often own shares, but they are not required to do it.

LTD LEGAL LIABILITY IN UNITED KINGDOM

There are many legal responsibilities connected with the duties of a director and the management of a Limited Liability Company.

LTD COMPANY TYPE IN UK

One limited by shares.

Most Limited Liability Companies are limited by shares. It means that shareholders’ liability for financial obligations of a company is limited to the value of the shares they own but have not paid.

The directors of the company are not personally liable for the debts of the company if they have not violated the law.

IF YOU ARE A DIRECTOR OF A LIMITED LIABILITY COMPANY YOU SHOULD DO THE FOLLOWING:

• Complete and submit a tax declaration every year
• Pay tax and insurance through the PAYE system if the company pays you salary.

COMPANY REGISTRATION IN THE UNITED KINGDOM IN THE FORM OF A LIMITED PARTNERSHIP AND A LIMITED LIABILITY COMPANY – UK LLP AND SCOTLAND LP

Your liability for the company debts differs depending on the ownership of the Limited Partnership and the Limited Liability Company.

In both types of companies, you can divide all the profits between partners. Each partner pays tax on their share of the profits.

COMPANY REGISTRATION IN UNITED KINGDOM – SCOTLAND LP

Responsibility for debts that cannot be paid during a limited partnership is shared between the partners.

RESPONSIBILITIES OF PARTNERS DIFFER AS FOLLOWS:

• “General” partners are personally responsible for the company’s debts.
• Limited partners are  liable only up to the amount paid in the partnership capital.
• General partners are also responsible for business management.

HOW TO REGISTER A LIMITED PARTNERSHIP

UNITED KINGDOM LLP

Partners of an LLP are not personally liable for the company’s debts – their liability is limited to the amount of money they invest in the business.

The responsibilities and shares of the Partners are determined in the Partnership Agreement. “Designated members” have additional responsibilities.

TAXATION OF UK LLP AND SCOTLAND LP

Each year, the partnership must submit the Self Assessment tax return to the HMRC.

ALL PARTNERS ARE REQUIRED TO:

• submit personal tax declaration every year
• pay income tax on their share of the partnership’s profits
• pay for national insurance

You must also register the partnership with VAT if you expect profit in excess of £ 83,000 per year.

If you need to register a company in the UK, then our specialists will help you to do it quickly and efficiently. In addition, you can buy a ready-made company in the UK. Write to us in the CRM form and we will help you register a company in the UK.

If you have any questions or need advice on registering or buying a company, call us at the numbers listed on the website, or write to us in the CRM form, and our specialist will answer you online.