Company Shark

Ltd vs PLC vs LLP: UK company types explained

The three most common UK business structures on the register are the private company limited by shares (Ltd), the public limited company (PLC), and the limited liability partnership (LLP). All give their owners limited liability and must file at Companies House, but they differ in how they raise capital, who can own them, and how they are run.

How they differ

A private limited company (Ltd) is the default for most UK businesses: owned by shareholders, run by directors, and unable to offer shares to the public. A public limited company (PLC) can sell shares to the public and trade on a stock exchange, but must have at least £50,000 of share capital and meet stricter rules. A limited liability partnership (LLP) is owned by “members” rather than shareholders, blends partnership flexibility with limited liability, and is common among professional firms like solicitors and accountants.

You can tell them apart from the company number prefix and name suffix: Ltd companies end in “Limited”/“Ltd”, PLCs in “PLC”, and LLPs in “LLP” (with OC/SO number prefixes).

Frequently asked

Which is most common?

By a wide margin, the private company limited by shares (Ltd) — it is the standard structure for UK small and medium businesses.

Do all of them have limited liability?

Yes. Ltd, PLC and LLP all limit their owners’ personal liability, which is a key reason businesses incorporate.

Can an LLP have directors?

No. An LLP is run by its members (and at least two “designated members” who take on filing responsibilities), not by directors.

Is a PLC always listed on the stock market?

No. A company can be a PLC without being publicly traded; being a PLC simply gives it the ability to offer shares to the public.

Related guides

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