Listening 2: forming a business in the UK

US C-corporation

US S-corporation

1. UK limited partnership

2. UK private company limited by shares

3. UK private company limited by guarantee

4. UK public limited company

5. US C-corporation

6. US S-corporation

a. is rather small and taxed through its owners, i.e. profits and losses are passed directly to the owners who declare them as part of their personal taxable income

b. there are both limited partners, who have no liability, and one or more general partners, who are liable for the obligations of the business

c. pays corporate taxes

d. is typically a non-profit organization, such as school or a charity which requires corporate status. Such a company has members who are guarantors instead of shareholders.

e. are publicly traded

f. its shareholders are not personally liable for the debts of the corporation

Script

swimwear

so far – на настоящий момент

business associates

in respect of liability

stock market

over the counter – вне биржи, без посредников, напрямую

as I recall – насколько я помню

number of shares

that’s not the case with – это не так по отношению the Act stipulates

options open to you

paperwork is completed

supply all necessary documents – представить ….

Companies House – регистрационная палата

to process the documents – обработать документы

company formation agent

to fill in the registered forms – заполнить бланки документов