PLCs are heavily regulated by statute, far more so than for a private company and some of the concessions available to private limited companies are not available to PLCs.
PLCs are not able to avail themselves of the elective regime or pass a resolution by way of a written resolution. The rules for issuing dividends are stricter and there are codes of conduct for directors.
Finally, there is a shorter period for the laying of accounts with Companies House, only six months after the end of its accounting reference period.
A PLC must by law have:
- a minimum authorised share capital of £50,000; and,
- allotted shares to the value of £50,000 of which 25% of each allotted share must be fully paid up.
We can assist you in setting up your PLC.
