Is my company dormant?
First of all, it’s important to note that dormant for accounts isn’t the same as being dormant for corporation tax. This article looks at whether you are dormant for accounts.
To file dormant accounts, there’s actually quite tough criteria that needs to be met, which we take you through below.
Bank accounts
Generally, if there’s a bank account in the name of the company, then the company is unlikely to be dormant.
This is because any interest paid, interest earned, or any bank charges are all it takes to disqualify a company from being dormant.
Companies House fees
If you file your confirmation statement directly with Companies House, and therefore pay the £13 fee, this doesn’t count as a significant transaction and therefore you’re still allowed to file dormant accounts.
The same applies to penalties for late filing of accounts.
Accountants’ fees
Even paying us from your company to file your dormant accounts would disqualify your company from being able to submit dormant accounts!
Fortunately, there’s an easy way around this – you simply pay from your personal debit or credit card.
Company formation costs
Much like accountants’ fees, as long as you pay for these personally, there’s no issue.
Payment of share capital
If you’ve paid for share capital, this doesn’t disqualify your company from producing dormant accounts.
Purchase of share capital
Paying accountancy fees (from personal account)
Payment of filing fees to Companies House
Payment of late filing penalties to Companies House
Company formation costs (from personal account)
Bank interest received
Bank interest paid
Bank charges paid
Paying accountancy fees from business account
Summary
If you’re unsure of whether your company is dormant, feel free to drop us a line at hello@thedormantaccountants.co.uk
If you want us to submit your dormant accounts to Companies House for you, for just £25, then click here.