HMRC must be informed when a non-trading or dormant company starts trading again and becomes active for Corporation Tax. Companies can use HMRC Online Services to supply the relevant information.
When a company has previously traded and then stops, it would normally be considered as dormant. A company can stay dormant indefinitely, however there are costs associated with doing this and certain filings must still be made to Companies House. The costs of restarting a dormant company are typically less than starting from scratch again.
The following steps are required:
Whilst reporting dates for annual returns and accounts should remain the same. The Corporation Tax accounting period is different and is set by reference to when the company restarts business activities.
If you are thinking of restarting your company get in touch with us and we can help guide you through the process. Speak to you usual Farnell Clarke contact or email email@example.com.Back to Newsletters