Dormant Accounts question

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

gregNoWorries replied

22 August 2024, 00:59
Yep, close down your business bank account (and your business PAYE and VAT accounts if still open), and advise the HMRC Corp Tax office that your business is dormant also. Any business-related costs will need to be paid by you personally. If you keep the business bank account open with CS costs, mail service costs, and accounting costs, then it won't qualify as dormant.
Leave a comment:
jamesbrown replied

15 August 2024, 09:39
An "insignificant transaction" is just technobabble for companies house confirmation statement fees and late filing penalties. Anything else and the company isn't dormant. So, not dormant.

Assuming they accept it, one option may be to pay the accountant from your personal funds. You aren't going to be carrying back a loss anyway, so...
Leave a comment:
eek replied

15 August 2024, 09:02
Originally posted by AndreaQuest View Post

A question please for the Accountants on this forum:
My company hasn't traded for a few years, although it has traded in the past.
I have been filing micro entity accounts via an accountant as I want to keep the company open to resume trading at some point.
My understanding is that dormant accounts can be filed instead - with Companies House - if no significant transactions have occurred.

Apart from the annual Confirmation Statement - the only transactions are my accountant's fees and my company mail service.

So the question is: Would Companies House view any of these transactions as significant - or would it be acceptable to file dormant accounts?

Thanks in advance for your help.

Yes any payments make the transactions significant because the company is not 100% dormant...
Leave a comment:
AndreaQuest started a topic Dormant Accounts question

15 August 2024, 08:18
Dormant Accounts question

A question please for the Accountants on this forum:
My company hasn't traded for a few years, although it has traded in the past.
I have been filing micro entity accounts via an accountant as I want to keep the company open to resume trading at some point.
My understanding is that dormant accounts can be filed instead - with Companies House - if no significant transactions have occurred.

Apart from the annual Confirmation Statement - the only transactions are my accountant's fees and my company mail service.

So the question is: Would Companies House view any of these transactions as significant - or would it be acceptable to file dormant accounts?

Thanks in advance for your help.
Tags: None