Dormant Company Accounts
What are dormant company accounts?
Dormant company accounts are a highly simplified form of accounts that include just a balance sheet detailing the company’s share capital.
Companies that are dormant for Companies House’s purposes are permitted to file this type of accounts. This can save a great deal of time and money as they do not require the services of an accountant to prepare them.
How often must dormant company accounts be filed?
Dormant accounts must be filed every year. The fact a company is dormant does not exempt it from fulfilling the requirement to deliver annual accounts to Companies House.
How does this service work?
- Select ‘Buy Now,' enter the required details, checkout and pay
- We will email you an online questionnaire for you to complete
- Your dormant company accounts will be filed within 1 working day of receiving the required information, based on your answers to the questionnaire
- We will inform you by email when Companies House accepts the accounts
- This service is renewable annually at a cost of £49.99 +VAT
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Frequently asked questions
What is a dormant company?
A dormant company for the purposes of Companies House is one that has no ‘significant accounting transactions.’ If there are no significant accounting transactions in the company, then it is usually considered dormant and so is eligible to file dormant company accounts.
Companies House and HMRC have different definitions as to what is considered a dormant company. Whilst Companies House relies upon the significant accounting transaction rule, HMRC considers a company dormant when it is non-trading.
What is meant by a 'significant accounting transaction?'
A ‘significant accounting transaction’ is any transaction that needs to be entered into the company’s accounting records. For example, the payment of an invoice or interest received from a bank account. It doesn’t matter how big or small the transaction actually is.
There are, however, three specific transactions that will not count as ‘significant’:
- Payment for shares taken by the initial shareholders on incorporation (the subscribers)
- Any filing fees that are paid to Companies House, e.g. for a change of name or confirmation statement
- Any penalties for the late filing of accounts
If there are no other transactions in the company aside from the three listed above, the company is usually able to submit dormant company accounts.
How long does it take to file my dormant company accounts?
Once you purchase this service, we will email you our online questionnaire to complete. When your responses to this questionnaire have been received, we will submit your dormant company accounts within one working day.
We highly recommend you order this service at least three working days prior to the deadline to submit your annual accounts.
What companies can file dormant company accounts?
Only companies that are dormant for Companies House’s purposes are eligible to file dormant accounts. Dormant companies are defined by Companies House as those that have no ‘significant accounting transactions.’
What details do Rapid Formations need to file my dormant company accounts?
To file your dormant accounts, we will need your company name, registration number, and authentication code. We’ll also need you to answer our short online questionnaire to helps us submit the accounts correctly.
The questionnaire will ask you to confirm that your company is eligible to file dormant accounts, whether any shares have been paid up, and the name of the director(s) who will sign off on the accounts.
Can I buy this service if I did not register my company via Rapid Formations?
Yes. You do not need to have formed your company with us to make use of our Dormant Company Accounts Service.
Is there a penalty for filing late dormant company accounts?
Yes. Failure to file any set of accounts (including dormant accounts) with Companies House will automatically incur a late filing penalty. The penalty starts at £150 for private companies and rises the longer past the deadline the accounts remain unfiled.
Penalties for accounts submitted late in two successive financial years are doubled. Additionally, the company’s director(s) may face prosecution for failure to uphold their responsibilities.
Please note: we cannot take responsibility for any late filing penalties or fines if your order was not submitted at least 3 working days prior to the due date.
Can LLPs file dormant company accounts?
No. Limited liability partnerships are not eligible to submit dormant accounts.
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