Filing Dormant Company Accounts Online
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Dormant companies are required to prepare certain statutory documents for Companies House every year, including annual returns and dormant company accounts.The annual return is a snapshot of a company’s internal structure at a particular date – it should contain information about directors, secretaries, shareholders, share capital, business activities and company addresses. You must file an annual return with Companies House at least once every 12 months. The filing deadline is within 28 days of the anniversary of company formation (first return), or within 28 days of the anniversary of the made-up date of the previous return (all subsequent returns). The made-up date is the date on which the return is completed and dated, and all information is declared accurate.
Company dormant accounts apply if:
No "significant accounting transactions" have taken place from the beginning to the end of the accounting period and No significant entries have been made through the company bank account. No dividends have been paid. No other events have taken place which would require an entry in the company accounts. Closing the company bank account is the simplest way to keep a company dormant. Do not open a company bank account until you are ready to trade.
How long can a company remain dormant?
There is no time limit for keeping a company in a dormant status. However, the directors must still perform the following administrative duties each year:
Administration of a dormant company
Even though your company may be dormant, you are still required to file an Annual Return to Companies House. This costs £15 if you file online, or £30 if you file a paper return. If you decide to appoint a Company Secretary, Director, or need to change the details of any of these officers while the company is dormant, you must notify Companies House. The same goes for any change of registered address. You can submit any of these changes online with the WebFiling service, or with the relevant Paper Form.
What are the penalties for not filing dormant company accounts?
Failure to submit dormant company accounts or an annual return will incur penalties from Companies House. Its guidance on penalties says: “Failure to file annual returns or accounts is a criminal offence which can result in directors being fined personally in the criminal courts”. Any fines for directors are in addition to statutory penalties that must be paid by the company. Fines start at £150 but grow rapidly to £1500 and can be doubled if the company persistently files it dormant company accounts late.
