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Get Your Dormant Company Accounts Filed By Xact+ Accountants
Frequently Asked Questions:
You must notify HMRC as soon as possible that your company is dormant for Corporation Tax purposes. This can be done online or by post. Once acknowledged, HMRC will not expect Corporation Tax returns until the company becomes active again.
Yes, dormant companies must file a confirmation statement annually to verify that the company’s information held by Companies House is accurate and up to date.
Failure to file required documents can result in penalties and the company being struck off the Companies House register. It’s essential to adhere to filing deadlines to maintain the company’s good standing.
Yes, a dormant company can maintain a bank account. However, any transactions, such as interest earned or bank charges incurred, may be considered significant transactions, potentially affecting the company’s dormant status.
A dormant company is one that has had no ‘significant’ accounting transactions during a financial year. Significant transactions exclude:
- Filing fees paid to Companies House
- Penalties for late filing of accounts
- Money paid for shares upon incorporation
This status indicates that the company is not actively trading or generating income.
Yes, even if a company is dormant, it must file annual accounts with Companies House. However, these accounts are simplified and do not require an auditor’s report if the company qualifies as ‘small.’
What Our Clients Say
“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…”
“I’ve had the pleasure of working with Xact+ Accountants, and it’s been an exceptional experience. Their team delivers a service that’s not only professional but also incredibly friendly. They’ve proven to be invaluable advisors in everything related to tax, finance, and dealings with HMRC…”
“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…”
