MARKETS AND INTERNATIONAL TRADE

Markets and International Trade

Markets and International Trade

Describe the different types of organization which exist in the UK, clearly stating the purposes of each type of organization (why they exist, what they are trying to achieve and who for).

In England there are several types of organizational forms of companies. Each organizational form has its own peculiarities in the structural form, and taxation. The most popular and in demand are private limited liability company (Privet Limited Company). PLC share of registered companies in England reaches 85%. A more detailed description of the companies is presented below (Flyvbjerg, 2005, p. 50-59).

Private Limited Company (Private Limited Company)

Liability of members of companies limited by the amount unpaid on shares that they own. Resolution on the establishment of the company is not required. Directors and shareholders may not be the residents of England. The requirements for minimum capital are present. The company must keep accounting records and to keep financial records, as well as the first (mandatory) the passage of the audit no less than 6 and not more than 18 months after incorporation. Each limited liability company, registered in the UK must have at least one director and secretary. If the company manages the sole director, he cannot perform the duties of secretary (Flyvbjerg, 2005, p. 50-59).

As private limited companies are organsiations that are owned by the owners of the organisation; individual or partnershep, the main objectives of this type of organisations is to earn profits. These profits in such organisations are not shared with anyone. The owners of the organisation have the sole right to the profits in such organisations.

Limited Partnership (Limited Liability Partnership)

Limited Liability (LLP) in England - it is organizational-legal form of limited liability companies, which are taxed at the same system as a partnership with unlimited liability, in all other respects they are very similar to the company (Hewlett, Roderic, 2006, p. 12-13). Most often, LLP Company established a 2-umya offshore company, where they act as members of the partnership. In this case, the British company is completely offshore, as offshore jurisdictions are not subject to taxation. Company LLP serves the following type of s reports:

Annual Return. Table of contents information, first used the address of the registration and partner companies. Report submitted every 12 months from the date of the organization and its supply is given 28 days.

Annual Accounts. It provides information about the company's financial activities. The first time the report must be filed within 10 months from the end of the reporting period. The default period is defined as the end of the month following the month of the anniversary of incorporation. In the late filed reports are charged significant penalties.

Tax Report. As Members LLP - an offshore company, we serve a report that shows that the participating companies and the partnership itself does not lead the activities in England. A report filed pursuant to the declaration of the beneficiary, compiled by a special form (Hewlett, Roderic, 2006, ...