Re-register company to change your legal status to suit your existing business requirements with Companies House can be done.
For example, a private limited company may wish to become a public limited company and raise capital by selling shares to the public.
On the other hand, a public limited company (PLC) may re-register to a private limited company (LTD) where the PLC status no longer benefits the business. For example, where the PLC meets the audit exemption threshold and the only reason it was subject to audit was because of it’s PLC status. Thus the re-registration would save auditing costs.
Generally, maintenance of a PLC is more expensive compared to a private limited company. A PLC must have their company accounts audited every year and Auditing fee can be expensive. Whereas a private limited company may claim audit exemption. In this circumstance, you only pay accountancy fee and no audit fee to pay.
In addition, there is also less compliance work for non audit company accounts. This is more affordable in comparison.
Types of company re-registration
All in all, Companies House provide five types of company re-registration services. You may re-register from:
- Private limited company (LTD) to a public limited company (PLC).
- Public limited company (PLC) to a private company limited (LTD) by shares or guarantee.
- Private limited company (LTD) to an unlimited company.
- From an unlimited private company to a limited company (LTD).
- Public limited company (PLC) to an unlimited private company.
Consequently, Companies House will issue the amended certificate of incorporation once your company re-registration is successful. The certificate will present your company changed of name from a PLC to LTD, status and the date of re-registration.
Accounts due date after re-register your company
Public limited company accounts due date is 6 months after their accounting year ended. Whereas for a private limited company, the due date is 9 months after the year-end.
Your company continue to submit the confirmation statement with Companies House as usual.