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Limited by Guarantee Company

LIMITED BY GUARANTEE COMPANY

Get advice on registering a limited by guarantee company

Advice on Limited by Guarantee Companies!

If you plan to set up a charitable organisation or a community group then a Limited by Guarantee Company may be the best option for you. Guarantee companies are operated by members rather than shareholders but the advantage of limited liability will still apply, however the members are decision makers for the company rather than owners.

Guarantee companies are classed as not-for-profit companies as the objectives are often humanitarian or charitable in nature. Any profits made by the company will be used to achieve these objectives rather than distributed amongst the company members as dictated by the articles of association.

If you plan on applying for a charitable status for your company in the future it is essential you set up a Limited by Guarantee Company or your application will be unsuccessful. Once you have been accepted for charitable status there will be extra filing responsibilities to take into consideration but you need not worry as our experienced team can ensure all documentation is prepared to be compliant with the Charity Commission regulations.

Whilst a Limited by Shares Company will often adopt the model articles of association, a Limited by Guarantee Company may choose to be created with a more bespoke constitution. If you have previous experience with Guarantee Companies you can register your guarantee company with your accountant or a company formation specialist.

“Please contact an accountant to discuss whether a limited by guarantee company is the best option for your business.” ¬†— The Accounting Site

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