If your company has not conducted activities during the year, it is considered dormant.
Your company will be marked dormant in Companies House if it did not have significant transactions during the financial year – did not conduct trade, did not provide services.
Significant transactions, according to Companies House, do not include:
Although the company was inactive, the director of the company is obliged to notify Company House. We will prepare and submit a dormant company accounts so that you comply with the requirements of the law and are not fined.
Which company is considered dormant?
This is a company that has not been operating since registration or the end of the last reporting period and no operations have been carried out on the bank account.
What do we offer to companies that have not conducted business?
Our dormant company accounts service includes a confirmation statement.
We will collect from you all the information about the directors, shareholders, and ultimate beneficiaries of the company, as well as update your business address, type of activity, and make changes if you require it. Thanks to this, your company will have an Active status in the registry and this will allow you to resume activities when necessary.
Include in your order or send us by e-mail or in any convenient way the following data:
If the company was registered with us, we will only need account statements if such exists.
What if I want to liquidate a company instead of filing all the reports?
If your company does not bring you any income and you no longer want to pay for its maintenance, you can simply close it, for this, choose and pay for our service of dissolution of companies.
When and how do I need to file a dormant company account?
Your first active or dormant company accounts must be filed within the first 9 months after the end of 12 months from the date of registration of your company.
Example
If your company was established on May 11, its accounting date will be May 31 of the following year. Thus, your company’s first reports should cover 12 months and 3 weeks. In subsequent years, your accounts usually cover your company’s fiscal year from June 1 to May 31.
What penalties are expected if I do not file a company accounts on time?
For private limited liability companies, the penalty will be set depending on how long the delay was:
The penalty is doubled if your accounts are overdue for two consecutive years.
How to avoid fines for late submission of company accounts?
To do this, it is necessary to submit a dormant company accounts in a timely manner, or to issue an accounting and reporting service with us.
Dormant company accounts with confirmation statement filing. This service comes as two in one, confirmation statement submission and dormant accounting.
