In the UK, mainly there are four types of companies, which are Public Limited Company, Private unlimited Company, Private Company limited by shares and Private Company limited by guarantee.

Any person, yearns to form a company in the UK, has to follow some definite rules and regulations.

In general, an individual who need to form a Public Limited Company (PLC) should forward certain documents such as memorandum of association. One will have to send a memorandum of association along with fees for registering the Public Limited Company (PLC) to Company House.

In addition the individual should send the wished-for address of the incorporate company office and details including the first director, secretary and ins and outs of previous directorships held in the times of yore along with legal statement of conformity with all the legal needs describing to the formation of a company. There are prescribed formats, like form 12, form 10, available for this communication.

A public limited company is a company, be obliged to declare that it is a public limited incorporate company in its memorandum as well as in its name. The name of the company is required to end with 'Public Limited Company' or 'PLC'.

The names have to end with 'community interest

P.L.C for any public limited company that is also community interest companies (CICs). It is essential to send further documents like, a community interest document and an excluded company declaration, if one wants to incorporate a Community interest company. All these added documents are required to be in a specified form that officially recognized by the Community interest company (CICs) Regulator.

A Public Limited Company is required to have no less than 50,000 pounds (Fifty Thousand pounds) as an approved share capital. It is important to understand that any Public Limited Company, ahead of starting the business; is required to have allotted stakes to the value of minimum 50,000 pounds. A quarter of the allotted stakes, 12,500 pounds, is required to be paid up. Each allotted share must be paid up to at least one quarter of its nominal value together with the whole of any premium.

Over and above registering a business as a Public Limited incorporate company, there are quite a few things more that you have to do to set it on a correct lawful footing.

Each company is required to have officially appointed officers at entire time. A Public Limited Company has to have no less than two members and two company directors. The secretary or the joint secretaries must have the sufficient knowledge and capability to execute the role and who has to be a member of any of the organization like, ICAEW, ICAS, ICAI, ICSA, CACA, CIMA and CIPFA.

In addition to this one must accomplish certain additional but compulsory formalities for a Public Limited company incorporation and companies in general. The company has to have a registered office. This address can be any where in the United Kingdom. Address must be very clear because Companies House sends letters and reminders to this address.

Registered office should be an efficient address for sending documents to evade delays. The clarity helps correspondence sent to this address is dealt on time. Company House, to validate the address, will make use Post Office address file. Any change in the address after incorporation must be notified to the Company House. There is a prescribed format; form 287, to let the company knows the change of address.

There is no age limit specified by the company act becoming a company Director. However, the Age of Legal Capacity (Scotland) Act 1991 does not permit to appoint an individual under the age of 16 years, it is not possible a minor to become a director in Scottish Soil.

On the whole, any individual can be a Director of the company. However, there are certain rules and regulations that have to be followed. Any individual, if bankrupted, needs to be discharged officially from bankruptcy, if wanted to be the director. Desired individual should not disqualify by any court, from holding Directorship.

With respect to Public Limited Companies or their subsidiaries, it is rather important to know that the desired individual should not exceed 70 years or reach 70 years of age whilst in the office, unless selected or re-appointed by resolution of the company in general meeting of which special notice has been given. Nevertheless, the wish-for individual must be competent to endorse to the selection by him or herself.

On the subject of Limited companies taxation, worth to understand that PLC will have to pay corporation tax on their profits and income and moreover require operating a Pay as you earn structure to collect and pay tax and National Insurance contributions from employees. Keep away from paying penalties, worth sitting some time to get an insight about how this system works.