This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Dormant company taxation

SteveD.
Posts:1
Joined:Wed Jul 15, 2020 9:03 pm
Dormant company taxation

Postby SteveD. » Thu Jul 16, 2020 1:00 pm

HELLO THERE
I have a limited company which has been dormant for the year 2018 -2019.
Period of accounts end 30 April.
Balance sheet 1 sher unpaid and 8000£ in bank account, transfer from personal account.
From 4th JUNE 2019 the bank start to charge fee account (6£)monthly and to REWARD account with the amount of 0.30£ MONTHLY .
1) the company is no longer dormant?
2) do I have to fill in corporation tax? if yes which form?
THANKS !

jerome.lane
Posts:237
Joined:Mon Aug 12, 2019 8:41 am
Location:Sandhurst, Berkshire
Contact:

Re: Dormant company taxation

Postby jerome.lane » Sun Jul 19, 2020 7:18 am

In HMRC’s eyes, the company was no longer dormant from the moment it opened a bank account. It is managing an investment! You should complete a CT600. If the company isn’t trading or about to, I’d suggest closing the bank account. By the time you’re done with other costs, there should be no profit so you could run the risk of reporting nothing (HMRC won’t be excited by the numbers involved) and getting the company back to dormant. Tide and Starling both offer free banking for start up companies When the time comes. You can always contact me directly if you need low cost help with simple accounts and company tax returns.
Jerome Lane
Tax Adviser
Telephone: 07943 005902

ATV Accountants
Posts:5
Joined:Mon Jul 20, 2020 9:19 pm
Location:London

Re: Dormant company taxation

Postby ATV Accountants » Tue Jul 21, 2020 7:00 pm

Yes you need to file CT600. You can contact me to file it for you.


Return to “Income Tax”