Public Limited Company (PLC)
Création d'entreprise en United Kingdom
The PLC is best suited for: Companies planning to list on a stock exchange, Businesses raising substantial capital from public investors, Large enterprises seeking maximum credibility and prestige, Companies intending to offer shares to employees at scale. A PLC pays Corporation Tax on its profits at the same rates as a Ltd (25% main rate, 19% small profits rate). However, listed PLCs are subject to additional reporting and disclosure requirements. Dividends paid to shareholders are not deductible for Corporation Tax purposes. Shareholders pay dividend tax at their marginal rate. PLCs may benefit from the Substantial Shareholding Exemption (SSE) on disposals of qualifying shareholdings. Transfer pricing rules apply more rigorously to large PLCs with connected-party transactions. Listed PLCs must also comply with SDRT (Stamp Duty Reserve Tax) on share transfers at 0.5%.
- Companies planning to list on a stock exchange
- Businesses raising substantial capital from public investors
- Large enterprises seeking maximum credibility and prestige
- Companies intending to offer shares to employees at scale
Faits essentiels
Processus de constitution étape par étape
Choose a company name
Select a unique name ending with "Public Limited Company" or "PLC". Check availability with Companies House.
Prepare constitutional documents
Draft the Memorandum and Articles of Association. PLC articles are typically bespoke and more detailed than those of a Ltd, addressing matters such as share classes, pre-emption rights, board composition, and governance procedures.
Register with Companies House
Submit Form IN01 specifying the company as a PLC. Include details of the registered office, directors (minimum two), company secretary (mandatory for PLCs), shareholders, and PSCs. The minimum allotted share capital must be at least £50,000.
Obtain a trading certificate
Before a PLC can commence trading or borrow money, it must obtain a trading certificate (Section 761 certificate) from Companies House by filing Form SH50 confirming that the minimum capital requirement has been met and at least 25% has been paid up.
Appoint a company secretary and auditors
PLCs are legally required to have a qualified company secretary and, unless exempt, must appoint statutory auditors. The company secretary must have relevant professional qualifications or experience.
Register for taxes and open banking
Register for Corporation Tax with HMRC. Set up PAYE and VAT as required. Open a corporate bank account — banks may require additional due diligence for PLC structures.
Documents requis
- Memorandum of Association
- Articles of Association (bespoke for PLC governance)
- Form IN01 (Application to Register a Company, marked as PLC)
- Form SH50 (Statement of Capital for trading certificate)
- Proof of registered office address
- Identification documents for all directors, company secretary, and PSCs
- Evidence of minimum share capital of £50,000
- Auditor appointment letter
Aperçu des coûts
Traitement fiscal
A PLC pays Corporation Tax on its profits at the same rates as a Ltd (25% main rate, 19% small profits rate). However, listed PLCs are subject to additional reporting and disclosure requirements. Dividends paid to shareholders are not deductible for Corporation Tax purposes. Shareholders pay dividend tax at their marginal rate. PLCs may benefit from the Substantial Shareholding Exemption (SSE) on disposals of qualifying shareholdings. Transfer pricing rules apply more rigorously to large PLCs with connected-party transactions. Listed PLCs must also comply with SDRT (Stamp Duty Reserve Tax) on share transfers at 0.5%.
Avantages et inconvénients
- Ability to offer shares to the public and list on stock exchanges (LSE, AIM)
- Access to large-scale capital raising through public share offerings
- Strong credibility and prestige with customers, partners, and investors
- Transferable shares increase liquidity for shareholders
- Can use shares as currency for acquisitions
- Separate legal personality and perpetual succession
- Minimum share capital of £50,000, with at least 25% paid up
- Mandatory company secretary with professional qualifications
- Statutory audit requirement increases annual compliance costs significantly
- Full financial statements must be filed and are publicly available with greater disclosure
- Subject to stricter corporate governance standards and the UK Corporate Governance Code if listed
- More complex and expensive to set up and maintain than a Ltd
- Greater regulatory scrutiny, especially if listed on a public exchange
Autres structures en United Kingdom
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CommencerThis content is educational and does not constitute legal or tax advice. Always consult a qualified professional for your specific situation. Data last verified March 2026.