In the UK, every limited company has to file accounts every year but if your company is not trading and classified as a dormant company then you only have to file dormant company accounts not the full company accounts. A company can be considered dormant if it has no source of income and no significant account transactions. If your company is not carrying out any trade, then you have to file dormant company accounts to represent your limited financial data. Our expert accounting team at Hayes Accountants provides the best accounting solutions to prepare and file your dormant company accounts to the Companies House and HMRC.
A Company is Dormant If:
For corporation tax purposes, a company will be considered dormant in the following conditions:
- Not trading and not receiving any income including investment
- New limited company and not started trading yet
- A flat management company
- Charity organization or unorganized corporation owing less than £100 tax