Establishment of a Scottish company limited by guarantee: a company limited by guarantee is an organisation that is not intended to make a profit and that has none of its income distributed to its officers or directors. These non-profit companies are generally founded to help progress the work of a charitable or community group.
Coddan Formations Agency can help to register a company limited by guarantee in Scotland within 4-5 working hours. The advantages of registering a company limited by guarantee in Scotland is that it can own property and employ people unlike an unincorporated club or group.
Subject to approval by the Charity Commission, a Scottish company limited by guarantee can apply for charitable status. This has the advantage of exempting the organisation from paying most taxes and reducing business rates on any property owned to 20% of their normal value. If charitable status is obtained then annual returns will need to be submitted to the Charity Commission as well as to Companies House.
Coddan can assist with registering the Scottish company limited by guarantee and thereafter, for an annual fee of £125.00 it can provide a registered address in Edinburgh along with mail forwarding for official correspondence. We will also provide a secretarial compliance service which will seek to ensure that your annual returns are submitted in a timely fashion and the organisation avoids being liable for fines.