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SECTION 1:

Business structures

esse qui

Laboris est labore culpa dolor.

Branch or permanent establishment

amet officia

Nostrud labore ipsum aute enim pariatur dolore et.

Trading vehicles

qui esse

Quis in ipsum pariatur. Labore proident do sit officia tempor nisi. Eu nostrud Lorem laborum veniam.

Other corporate options

laboris ut

Nulla dolore laboris incididunt laborum. Ex id duis et consectetur.

Directors’ duties and liabilities

duis aliquip

Labore ex elit sint velit. Aliqua irure culpa eu nulla qui qui.

Limited Liability Partnerships

enim id

Aliqua amet consectetur mollit voluptate.

Other partnership options

exercitation adipisicing

Id anim duis reprehenderit non do.

Other options for conducting business in the UK

exercitation adipisicing

Id anim duis reprehenderit non do.

Economic Crime and Corporate Transparency Act 2023

Branch or permanent establishment


Overview


Trading vehicles


As an alternative to setting up a branch, there are several different trading vehicles or business formats which are separate legal entities in their own right. The most common are limited liability companies and limited liability partnerships (LLPs).

Limited liability companies

A limited liability company can be set up under the Companies Act 2006 (2006 Act), which applies to companies registered in England and Wales, Scotland and Northern Ireland.

Key features

Ownership

Incorporation

Constitution

Continuing obligations

Name

Private company v public company


Other corporate options


In addition to companies limited by shares the 2006 Act provides for:

Companies limited by guarantee

Unlimited companies

Community interest companies

Charitable incorporated organisations


Directors’ duties and liabilities


Overview


Limited Liability Partnerships


Key features

Membership

Incorporation

Constitution

Continuing obligations

Management

Member’s duties


Other partnership options


UK law also recognises various other forms of partnership in addition to that of an LLP. These include:

General partnerships

Limited partnership


Other options for conducting business in the UK


Sole trader

Agency


Economic Crime and Corporate Transparency Act 2023


Overview

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