Dormant accounts for micro compay

[CharlieV]

Hi,

I have a micro company that is dormant (has not traded for the last two years, but has traded in the past).

Am I able to file dormant accounts for the company, or must I file micro accounts as it has traded in the past?

Companies house guidance is not totally clear and is slightly contradictory here - they classify a company as dormant if it hasn't made significant transactions in the financial year, yet on the filing system it says not to use dormant accounts if the company has ever traded.

Many thanks

 

[MyAccountantOnline]

Hi,

I have a micro company that is dormant (has not traded for the last two years, but has traded in the past).

Am I able to file dormant accounts for the company, or must I file micro accounts as it has traded in the past?

Companies house guidance is not totally clear and is slightly contradictory here - they classify a company as dormant if it hasn't made significant transactions in the financial year, yet on the filing system it says not to use dormant accounts if the company has ever traded.

Many thanks

What transactions has the company had ie income and expenditure in the period covered by the accounts?

 

[CharlieV]

What transactions has the company had ie income and expenditure in the period covered by the accounts?

None at all in this period

 

[MyAccountantOnline]

None at all in this period

Are you sure the company had no income and no expenses at all? You'd generally atleast have the Companies House fee for the annual Confirmation statement.

But if it was definitely no income or expenditure you will be able to file dormant company accounts to Companies House.

Dormant companies and associations

What it means to be dormant for Corporation Tax or Companies House - trading and non-trading, annual accounts, Company Tax Returns and telling HM Revenue and Customs (HMRC)

www.gov.uk

 

[MyAccountantOnline]

Have a read of the link I posted above - Companies House and HMRC have different definitions of dormant.

 

[UK Contractor Accountant]

I have a micro company that is dormant (has not traded for the last two years, but has traded in the past).

then you cant use the Companies House template for "dormant" company accounts as it will only let you input called up share capital, unpaid capital & bank.

The attached template for dormant company accounts is only
suitable for those companies limited by shares which have never
traded and where the only transaction entered into the accounting
records of the company is the issue of subscriber shares

 

[Joyous]

I have a micro company that is dormant (has not traded for the last two years, but has traded in the past).

Am I able to file dormant accounts for the company, or must I file micro accounts as it has traded in the past?

If your company is truly dormant according to the Companies House definition then you can file dormant accounts but you can't use the Companies House template. As you've seen, only companies that have never traded can use that.

Very similar to small company accounts except the director's report will state that the company is dormant and the profit and loss account will state that the company hasn't traded, no income or expenditure and therefore no profit or loss. Also that any company expenses, e.g. filing fees are paid on the company's behalf by the director.