Formed a company but not sure what to do next? No problem adventurers.
You've found a company name you like and so naturally you want to prevent anyone else from taking it before you're ready to get your business up and running. This brings us to one of the most common queries we receive on customer service; "How can I make my company dormant?
Entrepreneurs want the ability to do business for themselves. It’s a strong impulse that many people have - but when do you actually take the plunge and form your own company?
Dormant company accounts are a version of company accounts filed by companies that have never had any trading activity. A company’s first set of accounts should be filed no later than 21 months after the company was formed.
[caption id="" align="alignright" width="190"] How do I renew my Companies Made Simple services? Find out in this blog post.
[caption width="190" align="alignright"] The Companies House filing obligations explained[/caption]If you have formed a limited company, you have two filing obligations with Companies House; annual returns and annual accounts. Due to the wording, these two are often mistaken for each other – the aim of this post is to put an end to this confusion!
In our latest video blog, Peter explains what Dormant Company Accounts are, who can file them, and what to do if you miss the deadline. See here for more information on our own Dormant Company Accounts service.
For years now we've been banging on about the difference Annual Returns and Annual Accounts - well now we've made a video about it! Here's Laura with the explanation: See here for more information on: Our Annual Return Services Our Dormant Company Accounts Service Please let us know what you think of the video via the below comments function.
First, let’s look at the Companies House definition of a dormant company: “A company is dormant if it has had no ‘significant accounting transactions’ during the accounting period. A significant accounting transaction is one which the company should enter in its accounting records.