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| Limited liability | yes |
| Governing document | articles |
| Can it issue shares? | yes |
| Can it pay a return on shareholdings? | yes |
| Does it have a regulatory body? | Companies House |
| Can it have charitable status? | it’s possible, but not advisable |
| Does it have an asset lock? | not unless it’s a charity, so “no” |
Read more about companies limited by shares
| Limited liability | yes |
| Governing document | agreement or deed |
| Can it issue shares? | no |
| Can it pay a return on shareholdings? | no |
| Does it have a regulatory body? | Companies House |
| Can it have charitable status? | no |
| Does it have an asset lock? | no |
Read more about LLPs
