A company limited by guarantee (CLG) in the UK is a legal structure commonly used by non-profit organizations, charities, and social enterprises. Here are some key points about CLGs in the UK: Legal Entity: A CLG is a legal entity different from its members, with its own legal rights and duties. Members and Guarantors: CLGs … Read more
In the UK, a person who manages a company independently and is accountable for it individually is referred to as a sole trader. This refers that the person is in charge of running the company and is accountable for any business-related debts and losses as well as for maintaining all earnings. The individual must file … Read more
The term “S455 tax” refers to a tax charge that can apply to loans made by UK-resident close companies to their participators (i.e. shareholders and directors who have a material interest in the company in UK). The S455 tax is designed to prevent individuals from extracting funds from their companies in the form of loans, … Read more
