A public limited company, or 'PLC' for short, is a company that is legally allowed to offer its shares for sale to the public. They don't have to offer shares to the public if they choose not to, but the option is there if and when needed.
There are certain differences between the two, and there are specific requirements that a public limited company needs to meet.
- With a PLC you need a minimum of two shareholders, but a private limited company will only need one.
- There needs to be a minimum of two Directors registered within a PLC. Only one is needed for a private company.
- Company accounts are required to be submitted to HMRC within 6 months of the end of the financial year. A private company is allowed 9 months for submission.
- You need to have a fully-qualified Company Secretary appointed within a PLC, but a private company secretary does not need to hold qualifications.
Accotax Accountants in London will provide you with expert advice and practical assistance to support you as a director. We are also providing services for limited company accountants . Please call us on 0800 644 1258 email info@accotax.co.uk or call our senior consultant Sue directly on 0800 644 1258. More on limited company tax and accountants for limited company accountants
