What are UK Limited Companies?

What are UK Limited Companies?

A company in the UK has a separate legal entity and is created after registration at the Companies House. After incorporation, a certificate of incorporation is provided by the Registrar of Companies. This certificate is a proof of the company's existence and signifies that it has been formed in compliance with the Companies House regulations.

After incorporation, you can change the company's name at anytime, but you cannot change the company's registered number. Any item that is purchased by the company will belong to the company and not to the shareholders. The Directors of a company have limited liability since it is owned by the shareholders and run by the Directors. In case a company is unable to pay its debts the personal assets of the shareholders will not be included in the company's assets, unless they have specifically provided a guarantee for the company's activities. Since a company is a separate legal entity, its business activities continue irrespective of whether the original director(s) remain a part of the company or not.