Limited Liability Company
LLC is one of the common legal forms used in running a business. A company is incorporated to form an entity that has a separate legal personality, and this implies that an organization can engage in a business and form contracts on its own. Upon incorporation, a company is required to have two major constitutional documents. These include the following:
1.
Articles of association, which represent a contract between the members and the company and they set legal binding rules for the company and this is inclusive of ownership, control, and decisions. The Company Act of 2006 allows significant flexibility to draw the articles so as to suit the specific needs of the company as long as it is within the law.
2.
Memorandum that records the fact that the initial subscribers agree and wish to form a company and consequently become its members. It is impossible to amend a memorandum.
Accotax Accountants in London will provide you with expert advice and practical assistance to support you as a director. We are also providing services for limited company accountants. Please call us on 0800 644 1258 email info@accotax.co.uk or call our senior consultant Sue directly on 0800 644 1258
