DORMANT COMPANY? DO THIS OR IT COULD COST YOU!

[@johnleggett5054]

Hi - many thanks for the informative video. We set up a limited company way back in 2011 but have never traded and have always remained dormant. However, I have submitted zero VAT returns every quarter, every year and have also submitted dormant accounts and the annual confirmation statement every year. So, if we want to close down this dormant limited company, we just contact HMRC? I also assume there are no costs to do this (as we have never generated any sales or income).

[@HeelanAssociates]

Contacting hmrc yes no cost (de reg from vat, tell tax office). Depending how you close might have costs. Normally a voluntary strike off is a £10 cheque to companies house.

[@naq5339]

Hi, thanks for your video. My company is dormant now, and I would like to re-start it recently. I tried to log in HMRC and literally dont know how to do. Could you please upload a tutorial video regarding to this issue? Many many many thanks in advance.

[@HeelanAssociates]

You shouldn't need to do really anything to make it not dormant - just start trading and when it comes to file accounts you need to file full ltd accounts and tax return. Usually with LTDs an accountant will be needed. The only thing you should do now is call/write to HMRC corp tax and tell them you are trading so they know when to send you a company tax return.

[@naq5339]

​@@HeelanAssociates wow, thank you soooo much. I will write to HMRC. Thanks so mush again for all these info.

[@rockerjim8045]

I got transferred to my self assessment filing. Hopefully no problems. Trying to fill in the companies house site just ended up as error . even nothing in the bank wouldn’t register I’m having to contact them by email still not resolved

[@HeelanAssociates]

Ye can be difficult to figure out that one!

[@giuseppebonelli]

I am Italian I don't Know if Understoond what you say on the video if my company is dormant must I comunicate this to HMRC?

[@HeelanAssociates]

Think I’ve just answered this one for you on other video

[@bigaudacity]

Hiya, my company has been dissolved because I didn’t submit documents after 1 year after registering the company. I hadn’t started trading at all. Is it better to form a new company or file a administrative restoration application?

[@HeelanAssociates]

Tough one to answer because we'd need more info to answer fully, but if it's not trading, owns nothing/was effectively just a 'name', starting again would be far cheaper. And then file your stuff this time around :- )

[@bigaudacity]

@@HeelanAssociates thank you super helpful! Yep, was essentially just a name and didn’t own anything! Won’t make the same mistake twice!

[@Ra2ij]

​@@bigaudacitymay i ask you i created a company but i never used it it is 7 months now what shold i do to closed it .

[@golammohammad5495]

Hi. I recently formed a company in February this year. I have also registered for corperation tax. I am not trading & dormant. What do I do as I I've told hmrc i am trading by accidently registering for corperation tax?

[@HeelanAssociates]

You can speak to hmrc and they will amend the record

[@hassan22723]

My company was dormant and was compulsory stuck off, I registed the company during the pandemic but didn’t do anything or traded. Moved house and personal issues forgot all about it. Can register another company?

[@HeelanAssociates]

Unless you've been barred from being a director then yes usually no issue.

[@Ra2ij]

Hello . I created a company but never used it or make a profit what should i do to dissolve it

[@HeelanAssociates]

Have a read here www.gov.uk/government/publications/strike-off-a-company-from-the-register-ds01

[@Ra2ij]

@@HeelanAssociates should i fil e my accounts

[@PKT585]

Really useful video thanks for creating this! Do you have a video on how to create a dormant company with Companies house I was unable to find any information 😐 Would you advise getting an accountant to help set the dormant company up? Thanks in advance !

[@HeelanAssociates]

We don’t, it’s similar to the how to set up a limited company video though. You can either form with companies house or with an agent such as accountant. Getting professional advice is always best but if you are setting it up to simply sit there you may decide direct formation suits your needs.