If your company is dormant for Corporation Tax, it means that it’s not currently trading and doesn’t have any income or expenses that would attract tax.
When HMRC considers your company dormant: You might receive a letter from HMRC informing you that they’ve decided to treat your company or association as dormant, meaning you don’t have to pay Corporation Tax or file Company Tax Returns.
When you think your company is dormant: If your company has stopped trading and has no other income, you can notify HMRC that it’s dormant for Corporation Tax.
If you’ve already filed a Company Tax Return or received a ‘notice to deliver a Company Tax Return’: You’ll still need to file a Company Tax Return online to inform HMRC about the dormant status of your company.
Xact+ Accountants can help ensure compliance with all HMRC requirements, providing a hassle-free solution for just £49.99 per year. This service includes preparation and filing, so you can focus on your business without worrying about the paperwork.