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All UK limited companies are legally required to file documents with Companies House to comply with the UK Companies Act and for the company to remain in existence.
One of the documents all UK companies must file is a set of accounts at the end of their 12 month accounting period. This regulation applies to both active and dormant companies.
The company’s Filing period starts at the end of the month the company was incorporated in, for example if the company was incorporated on 10th March the accounting period will finish at the end of March the following year and the accounts should cover this entire period.
A company can only be considered dormant if there has been no transactions in the last company accounting period. If the company has purchased or sold goods then this will be considered as a trading transaction and will need to be accounted for. In addition if the company has a bank account which has earned interest this will also need to be accounted for on the company records and a set of full company accounts will need to be submitted to Companies House and HMRC.
Dormant company accounts can be filed online using their web filing software. A private limited company has a 9 month time frame after their accounting period to prepare and submit the document to Companies House. If the accounts are submitted or accepted after this point then the company will receive a fine issued by companies House. It is the responsibility of the company directors to ensure the company accounts are prepared and filed on time. If the accounts are not received and accepted at Companies House in the 9 month time frame then a late filing penalty will be issued to the company. The fines will increase the longer it takes for Companies House to receive the accounts after the filing deadline.
We can assist with filing dormant company accounts using Companies House web filing service. If you require assistance we will need your company number and authentication/web filing code. Most accounts submitted online are accepted the same working day subject to Companies House. Contact us today for further guidance.
Please note Companies House processing times are an estimate only and not guaranteed.
Simple Formations is a trading name of Small Firms Services Limited. We have been trading since 1998 and are one of the UK's longest standing Company Formation Agents