What is a dormant account filing service?
What is a dormant account filing service?
According to HMRC, a company is dormant for corporation tax purposes if it has had no ‘significant transactions’ in its financial year.
When Do I Need to File Dormant Accounts?
You must file dormant accounts within 9 months of the end of your company’s financial year. Missing the deadline can result in penalties, fees starting from £49.99 to £64.99, depending on how late the accounts are submitted.
Dormant companies must also file an Annual Confirmation Statement with Companies House, even if they haven’t traded. This is essential to maintain compliance with the Limited Liability structure.
Corporation Tax and Dormant Companies
What about corporation tax?
If your company is dormant, you are not required to pay Corporation Tax. However, you must inform HMRC that your company is dormant, or they’ll assume tax returns are still due.
What about corporation tax returns?
If HMRC has sent a Notice to Deliver a Tax Return, you must file one, even if dormant. At Xact+, we help prepare and submit these Corporation Tax Returns accurately to avoid fines or inquiries.
Contact us today or click ‘Order Now’ to get started for just £49.99.
Get Your Dormant Company Accounts Filed By Xact+ Accountants
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“Xact+ Accountants have been an important asset in streamlining our tax management, filings, and bookkeeping processes. Their expertise in UK tax regulations, combined with their exceptional bookkeeping services, ensures that our company remains…”
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“We’ve been with Xact Accountancy for almost two years, and we’re thoroughly impressed. From handling state confirmations to accounts, they excel in every detail. Their problem-solving skills are exceptional, always finding the best solutions. They’ve made my business…”