limited company

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Limited company

A form of business commonly used in the U.K. comparable to incorporation in the U.S.

Limited Company

In the United Kingdom, a company with limited liability amongst its owners; that is, shareholders who are not liable for more than their investment in case of insolvency. In other words, an owner of a limited company would lose the value of his/her investment if the company declares bankruptcy, but would not be held liable for other outstanding debts. A limited company is the most common corporation structure in the United Kingdom and is designated by "Ltd" after its name.

There are two types of limited companies. A limited company by guarantee has no shareholders but instead contains members who contribute a small amount to cover outstanding debts following a potential liquidation. This structure is common among British charities, and is used by the Financial Services Authority. A public limited company usually (but not always) trades publicly, and shareholders are only liable for the value of their individual investments. These companies are designated by "p.l.c." See also: Limited liability company, U.S. Corporation.

limited company (Ltd.)

A firm registered in such a manner as to give its owners limited liability. Limited companies are most often associated with British registration, much as incorporated firms are primarily associated with U.S. registration.

limited company (Ltd)

References in periodicals archive ?
Since a private limited liability company is a more complex legal form than an individual enterprise, the new regulation related to private limited liability companies involves only the situation where there is only one shareholder who chooses to use all the standard provisions of the Law on Companies of the Republic of Lithuania and to form only one management body of the enterprise--the director.
These rules are discussed in Part III below as they apply to the single-member limited liability companies.
MANY BUSINESSES ARE CONSIDERING limited liability companies (LLCs) as a way to operate for both tax and liability reasons.
Are the Courts Developing a Unique Theory of Limited Liability Companies or Simply Borrowing from Other Forms?
The American Institute of CPAs accounting standards executive committee (AcSEC) has issued guidance on accounting and reporting for limited liability companies (LLCs) and limited liability partnerships (LLPs).
1 For a discussion of tax issues affecting limited liability companies, see Crnkovich, Schmalz, & Starr, Limited Liability Companies: A Tax Perspective, 9 TAx MANAGEMENT REAL ESTATE JOURNAL 111-20 (June 2, 1993).
Many limited liability companies (LLCs) engage in interstate business, rather than restricting their operations to one state.
You can submit paperless Schedules K-1 (568) for limited liability companies as well.
As for the types of transfers the new law facilitates, he cites the conversion of a general partnership into a limited partnership, noting also that New York State may soon permit the formation of limited liability companies.
Kleinberger (WG&L, 2005), comprehensively and analytically addresses the critical issues facing tax advisers on the formation, operation and dissolution of limited liability companies (LLCs) and other vehicles, such as limited liability partnerships and limited liability limited partnerships.

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