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What is a dormant company?

 

Registering a unique business name with Companies House is a must do thing for many entrepreneurs to protect their business names and deter their competitors from incorporating a company similar to their business names.

A limited company is registered with no intention to carry out business since its incorporation is eligible to file dormant accounts with Companies House.

The UK company law defined a company as a dormant company if it has no significant business accounting transactions during its accounting period. If your company merely has the following transactions during its accounting period then it is classified as dormant.

  1. Monies received from shareholders for the shares issued to them as per the company memorandum of association.

  2. Statutory fees paid to Companies House for filing of Confirmation statement, company name change and re-registration of your company.

  3. Late filing penalty payment made to the Registrar of Companies for late filing of accounts.
    If your non trading company have any other transactions during its accounting year, it may not be eligible to file dormant account.

Companies House will issue late filing penalty if your dormant accounts are filed late for even just one day.

confirmation statement must be filed with Companies House reporting the principal business activity of your company is dormant.

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