Making a company dormant

[mickey]

Hi all, what needs to happen to make the company dormant? Fees, forms to fill and how to re-enable the company I the future? Thanks

[Clare@InTouch]

There's nothing you specifically need to do, you just stop using it. You may want to close down your VAT and PAYE schemes if you won't be using them for a while, or simply file nil returns until you do need them again.

Fees will depend on what you need done. Non-trading accounts will be cheaper than trading accounts, but you'll still need a tax return if you're a company director.

To re-enable the company you simply start using again.

[northernladuk]

Would the reasons you are doing this have any bearing on whether or not this is the best option? Are you going permie?

[hgllgh]

There's nothing you specifically need to do, you just stop using it. You may want to close down your VAT and PAYE schemes if you won't be using them for a while, or simply file nil returns until you do need them again.

Fees will depend on what you need done. Non-trading accounts will be cheaper than trading accounts, but you'll still need a tax return if you're a company director.

To re-enable the company you simply start using again.

Don't you still need to submit company accounts and other statutory forms even though it's dormant?

[Clare@InTouch]

Don't you still need to submit company accounts and other statutory forms even though it's dormant?

Yes - but as I said above non-trading accounts are likely to be cheaper. You still need to do everything that a trading company has to do really, it's just less data and therefore probably cheaper if you want an accountant to do it for you!