I have my first set of accounts where my client has told me that they are going to become dormant. E.g. If an AP is from 01/11/2012-31/10/2013 and they became dormant in Dec 2013. Do I file the accounts for AP 01/11/2012-31/10/2013 as normal and file the CT600 as normal?. Then the next set of accounts will be dormant?. My main confusion is whether I have to do anything different this time around. My logic is saying no, to file as normal. Also what do I need to do in order to inform Co Ho and HMRC that it is dormant?.
If was active in the period to 31/10/13 then need to file accounts and CT600 as normal.
If they became dormant in December 2013 then what about the period of November 2013? To prepare dormant accounts the company has to be dormant fpr the whole period not just part. Basically to be dormant there has to be no transactions going through the company in the period other than paying for the annual return. If any activity in November 2013 then will you will need to prepare normal accounts.
If a company is dormant then you dont need to tell CH anything. Just need to file dormant accounts. You still need to submit a CT600 to HMRC as normal if you have received a notice to file one. If a company is going to be dormant for a period of time then you can write to HMRC letting them know and they usually give a period of 5 years when you dont need to file a CT600 unless of course the company starts trading when you need to inform HMRC and do a CT600 as normal. After 5 years HMRC will review and will either extend the period of not submitting a CT600 or request one be done.
Yep, so accounts as normal and CT600 as normal as was trading in this period. But if they are dormant for the next accounting period then I will proceed as above. I will have to look at it next time around regards to being dormant or not.
