What is the minimum share capital for a PLC?

The authorised minimum is £50,000 of nominal allotted share capital. Each share must be at least one-quarter paid up plus the whole of any premium, subject to the employee share scheme exception. At £50,000 nominal capital, one-quarter paid up illustrates £12,500 of nominal value paid, plus any premium in full.

Are all PLCs listed on the stock exchange?

No. Companies House says a public company's shares may be quoted on a stock exchange. That wording distinguishes public company status from being listed; public status does not itself establish a listing.

What is a public limited company (PLC)?

What does public limited company mean?

A public limited company (PLC) is a UK company with share capital that can offer its shares for sale to the general public. Each member's liability is limited to any amount unpaid on their shares. Its shares may be quoted on a stock exchange, but public company status does not itself mean that they are listed.

Companies House recognises four company types: private companies limited by shares, private companies limited by guarantee, private unlimited companies and public limited companies. The certificate of incorporation states whether a company is private or public. The key distinction for a PLC is the ability to offer shares to the public, alongside extra capital and governance requirements.

See Companies House: incorporation and names, particularly sections 1.3 and 3.

What is the difference between a PLC and a Ltd?

A private company limited by shares cannot offer shares for sale to the general public. A PLC can, but it has more requirements to meet. This table compares a PLC with a private company limited by shares (Ltd).

Requirement	PLC	Private Ltd
Offer shares to the public	Can offer shares to the general public	Cannot offer shares to the general public
Minimum allotted share capital	£50,000 nominal value; see paid-up rules below	No £50,000 public-company minimum
Directors	At least two	At least one
Secretary	At least one qualified secretary	Not required unless the articles require one
Name ending	Public limited company or plc; Welsh alternative where applicable	Limited or Ltd
Trading certificate	Required before doing business or exercising borrowing powers	No public-company trading certificate requirement
Annual general meeting (AGM)	Required within six months beginning the day after the accounting reference date	No public-company AGM requirement
Time to file accounts	Six months after the accounting reference period ends	Nine months after the accounting reference period ends
Small companies regime	Cannot use it	May use it if eligible

A PLC must have at least one director who is an individual, and all individual directors must be aged 16 or over. Its secretary must be qualified through the routes set out in Companies House guidance, such as relevant professional membership or experience. Having a secretary does not replace the requirement for two directors.

The name must end with public limited company or plc, with or without full stops. Where the registered office is stated as being in Wales, cwmni cyfyngedig cyhoeddus or ccc can be used instead.

The AGM rule is in section 336, the accounts filing periods in section 442, and the exclusion from the small companies regime in section 384 of the Companies Act 2006. A company that was public at any time in the financial year cannot use that regime. For the private-company side, see our private limited company examples.

How do the £50,000 and one-quarter rules work?

The authorised minimum is £50,000 in nominal value of allotted share capital under section 763. That is a share capital requirement, not a turnover or profit threshold. Under section 586, each share must be paid up to at least one-quarter of its nominal value, plus the whole of any premium.

A minimum illustration

Suppose a PLC allots £50,000 of nominal share capital, with every share paid up to one-quarter of its nominal value. The nominal amount paid up is £50,000 / 4 = £12,500. Any premium on the shares must be paid in full on top of that amount.

This is an illustration of the minimum, not a conclusion about a particular allotment. The rule applies per share; employee share schemes have an exception under section 586(2). The £12,500 figure should not be read as the total payment required where a premium applies. Our guide to adding shareholders covers the separate private-company topic.

Does a PLC need a trading certificate?

Yes. Before a newly incorporated public company can do business or exercise borrowing powers, it must apply for a trading certificate using form SH50, confirming the minimum allotted share capital. Incorporation alone is not permission to start trading.

Trading without the certificate is an offence and directors can be fined. See section 761 and the Companies House guidance above. Different rules apply when a private company re-registers as public; this guide does not describe that process. For general incorporation background, see how to form a company.

What are examples of public limited companies?

These are well-known examples whose Companies House register entries show the company type as "Public limited Company", checked on 31 October 2026:

TESCO PLC (00445790)
MARKS AND SPENCER GROUP P.L.C. (04256886)
BARCLAYS PLC (00048839)
BP P.L.C. (00102498)

These examples illustrate the registered company type only. They do not establish anything about another company's listing status or whether a PLC would suit your business.

What are the advantages and disadvantages of a PLC?

The main advantage is that a PLC can offer shares to the general public, and its shares may be quoted on a stock exchange. A private company cannot make that public offer.

The corresponding capital commitments and duties include:

At least £50,000 of nominal allotted share capital, with the paid-up rules above.
At least two directors and a qualified secretary.
A trading certificate before business or borrowing, subject to the separate re-registration rules.
An AGM within the statutory six-month period.
A six-month accounts filing period rather than nine months.
No access to the small companies regime for accounts and filing.

These are ongoing responsibilities to consider alongside the ability to offer shares publicly. Public status alone does not remove them when a company is not listed.

Does a PLC pay different Corporation Tax rates?

PLC status does not create a separate set of Corporation Tax rates. The general rates are 25% at the main rate and 19% for small profits of £50,000 or less, with marginal relief between £50,000 and £250,000, subject to the applicable conditions.

See GOV.UK: Corporation Tax rates and our 2026/27 Corporation Tax rates guide for the calculation and threshold rules. The accounts small companies regime and the Corporation Tax small profits rate are separate concepts.

Is a PLC always listed on a stock exchange?

No. Companies House says a public company's shares may be quoted on a stock exchange. The distinction follows from that wording: being a public company does not itself mean its shares are listed. Flotations, listing rules and FCA requirements are separate matters needing specialist advice.

What is a public liability company?

Public liability is a type of insurance, not a company type; the company term is public limited company.

Who might a PLC suit?

A PLC may be worth considering where the ability to offer shares to the public is relevant to the business's plans and it can meet the capital and governance requirements. For many smaller businesses, a private limited company is an alternative to consider. The choice needs a review of your circumstances rather than a conclusion based on the name alone.

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