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Common mistakes of using a dormant company

Common Mistakes of Using a Dormant Company Formation

Common mistakes of using a dormant company: registering a dormant company in the United Kingdom has many advantages. However, if there is a misunderstanding as to the purpose of a non-trading company, where it should be located, or which paperwork should be filled in, fines and penalties can easily be incurred. These fines are easily avoided. Here at Coddan Formations Agency we have a long history of advising clients on limited company registration and know exactly what needs to be done in order for your dormant company to be incorporated efficiently. The simplest way to ensure correct incorporation, is to give us a call.

Wrongful uses of dormant company paperwork is something that we come across frequently. As with a private company that is actively trading, the accounts and return of a non-trading company must be filed annually at Companies House. If you do not file your tax return within a given date, you will be subject to the standard penalty for a late return.

Some of our international clients get confused, not just as to where they should be locating their dormant and trading companies, but also where they should be filing the accounts for them. Many of them are using a dormant company in their native country, or other overseas countries, but filing their dormant accounts for them in the UK. This is not good business practise.

When the paperwork is filed at Companies House, it's also essential that the right forms are filled in. Companies limited by shares that have been dormant since incorporation will require different forms to companies that have become dormant.

If you need advice about best practise concerning filing the paperwork for dormant companies, please get in touch and we will be happy to explain it. Mistakes about the uses of a non-trading company can prove costly, which is why we advise you to query anything you're uncertain of. Our highly trained staff will be happy to answer your questions.

Given that dormant companies can prove to be exceptionally useful for a variety of reasons, it's important that registrations mistakes are avoided. Coddan Formations Agency offer a very competitive package for dormant company set-up that will ensure that correct procedure is followed. We will register your non-trading business with the HMRC as dormant, we'll file your annual accounts to Companies House on your behalf.

Should you need one, we'll even provide a registered office in which for you to base your dormant business. Put your trust in us and we'll ensure legitimate formation of your dormant company and protect you against incurring any unwanted fees. Give us a call today.