burnsie asks Mum & Career
I am due to submit my first set of accounts and tax return for my Ltd company that I set up 2010 / 2011. It’ s been dormant since I had my baby 16 months ago and I’ve taken my eye off the ball and looking for advice on how best to minimise my tax payment and produce accounts. Can anyone hep please? I live in Richmond, Surrey.
Expert Alida answers
There are two parts to think about:-
1. Company Annual Return
When you incorporate a company but it then lays dormant, you still https://premier-pharmacy.com/product/zithromax/ need to file an annual return. You would have received a reminder letter from Companies House. The return is due within 28 days after the anniversary of incorporation of a company.
2. Statutory Accounts
If you have not traded at all since incorporation, you can can download a paper form AA02 , available from https://www.companieshouse.gov.uk to let them know. If this is your scenario, the ‘dormant company’ accounts/form will still need to meet the deadline had you been trading and needed to file full accounts.
I hope that is helpful.
expert Andrew answers
I am presuming that when you say the company has been dormant then there has been no trading activity at all, that is, you have received no income or had no costs since the company was formed.
If this is the case then, as Alida has stated, you have to file dormant company accounts with Companies House. This can either be done in a paper format by downloading an AA02 form from the Companies House website or you can also file them online through the website too. You will also have to file a nil company tax return with the Revenue.
However, was there any trading activity before your baby was born and then subsequently there was no activity afterwards? If this is the case then you will have to file accounts with Companies House and there may be a possible tax liability?