Not aware of any specific illegality, other than registration for taxes.
However once the company trades it ceases to be dormant, so protectively you can't continue to file "dormant" accounts.
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Previously on "Is it illegal for a company to trade whilst dormant ?"
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Originally posted by Maslins View Post.so if the company starts to have income, and you don't tell HMRC about it, then yes, that's illegal, it's tax evasion.
I have no plans btw
Boo
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Originally posted by Boo View PostHi,
Can anyone tell me whether it is illegal for a company to trade while it is dormant ? I know, obviously, that it it is wrong, and would never do so, but is it actually illegal ? And if so what is the offence, what are the penalties, and who is responsible for enforcing them ?
By "trade" I mean to enter into contracts and take money in exchange for goods and services. I.e. "trade"
Thanks,
Boo2
Dormant's mainly a term for HMRC's benefit...so if the company starts to have income, and you don't tell HMRC about it, then yes, that's illegal, it's tax evasion.
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Is it illegal for a company to trade whilst dormant ?
Hi,
Can anyone tell me whether it is illegal for a company to trade while it is dormant ? I know, obviously, that it it is wrong, and would never do so, but is it actually illegal ? And if so what is the offence, what are the penalties, and who is responsible for enforcing them ?
By "trade" I mean to enter into contracts and take money in exchange for goods and services. I.e. "trade"
Thanks,
BooLast edited by Boo; 15 April 2013, 13:37.Tags: None
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