Limited company guide
Ltd against PLC compared on share capital, offering shares to the public, audit, company secretary, filing deadlines and when re-registering is worth it.
Written and reviewed by Waqas Sagar Member of ICAEW, Fellow of ACCA, Fellow of AAT, a double graduate and entrepreneur at heart, helping startups grow and serving thousands of businesses nationwide with an excellent team. Published by LimitedCompany.Accountants, 12 London Road, Morden, London SM4 5BQ. Reviewed 12 September 2026 against 2026/27 UK rates and current Companies House and HMRC guidance.
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Xero Gold PartnerCertified advisor
QuickBooks PartnerCertified ProAdvisor100+ yearsCombined team experienceFully insuredUp to £2m indemnityA private limited company cannot offer its shares to the public. A public limited company can, which is what makes a stock market listing possible, though most PLCs are not listed at all.
The defining difference
Capital, officers and audit
Filing and disclosure
When re-registering makes sense
A private limited company cannot offer its shares to the public. A public limited company can, which is what makes a stock market listing possible, though most PLCs are not listed at all.
Being a PLC is about the ability to raise capital publicly and the credibility that carries, not about size in itself.
A PLC needs allotted share capital of at least £50,000, with at least a quarter of the nominal value and the whole of any premium paid up, and it cannot trade until it has a trading certificate. A private company has no minimum.
A PLC must have at least two directors and a qualified company secretary. A private company needs one director and no secretary.
PLCs cannot use small company audit exemption, so accounts are audited regardless of size, and they must lay accounts before a general meeting.
A PLC files accounts within six months of the accounting reference date; a private company has nine. PLCs also face fuller disclosure and cannot use micro-entity or small company filing options in the same way.
The added cost of audit, a secretary and faster reporting is the real price of PLC status.
When you genuinely intend to raise capital from the public, list, or need PLC status to satisfy a counterparty or a market convention in your sector.
Most growing private companies achieve what they need through share classes, EIS or VCT investment and institutional rounds, all of which are available to a private limited company.
Local help
We work with company directors across London and Surrey from our office at 12 London Road, Morden, London SM4 5BQ. Pick your area, or send the form below and we will call you back.
Frequently asked
No. Many PLCs are unlisted. Listing is a separate process with its own rules; PLC status simply permits shares to be offered to the public.
Yes, by re-registering with Companies House, which requires the share capital test, audited balance sheet evidence and a special resolution.
Sometimes, in sectors where it is the norm. Against that sit audit costs, faster filing and fuller public disclosure of your results.
Keep bank statements, sales and platform reports, purchase invoices, payroll records, VAT workings, finance agreements and Companies House correspondence. We confirm the exact list at onboarding and identify gaps before a filing deadline becomes urgent.
The fee depends on transaction volume, record quality, VAT and payroll requirements, historic catch-up and the level of reporting needed. We agree a fixed scope and price before technical work starts, with published packages available on our fees page.
Yes. We request professional clearance, collect the prior records and authorities, check the next Companies House and HMRC deadlines, and give you one clear handover list. The process is normally completed remotely.
Yes. We work through secure cloud records, scheduled reviews and digital approvals, while keeping a named team available by phone, video call and email. Clients can also visit our Morden office by appointment.
We regularly work with Xero, QuickBooks, FreeAgent, Sage and connected sales or expense apps. The right setup depends on transaction volume, integrations and the reports you need, not simply the software brand.
The relevant calendar may include annual accounts, Corporation Tax payment and return dates, confirmation statements, VAT returns, payroll submissions and Self Assessment. We map the dates from your company year end and registrations.
No. This page explains general UK rules and common accounting treatment. Your facts, contracts and wider tax position must be reviewed before you rely on a conclusion.
Included approach
Check the current rules
Deadlines, thresholds and filing rules change. GOV.UK and Companies House publish the current statutory position; advice should then be applied to your company’s circumstances.
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Share your next deadline, accounting problem or growth question. We will reply with a clear next step and quote any technical work before it begins.
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Four London offices
Work with us entirely online, or sit down with your accountant at whichever office suits you. Open Monday to Friday, 9:00am to 5:30pm. Office visits are by appointment only, so please book before coming in.
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Pick a time that suits you and a qualified accountant will call you about your company, deadlines and fees.
Appointments run monday to friday, 9:00am to 5:30pm. Your confirmation is emailed straight away.
