A dormant company in the UK is defined as a company

A dormant company in the UK is defined as a company that has had no significant accounting transactions during its financial year. It is not sufficient that the company may not have traded if the Arnette Sunglasses, company has had any accounting transactions at all with the exception of three specific transactions that are allowed.

Transactions regarded as allowable for the company to retain its dormant company status are the amount received by the company in respect of the first shares issued to the memorandum of association subscribers, the Oakley Sunglasses Cheap,annual filing fee payable to companies house and fines and penalties issued by companies house for non filing of the annual return.

The term dormant company has legal significance quite separate to a company which might be described as a non trading company. The difference being that a non trading company may still have other financial transactions entered into its accounting records which even though not related t trading would disqualify that company as a dormant company and the special rules applicable to a dormant company.

A company may be in a dormant state for a number of reasons such as holding assets or documents or merely protecting a trading name or Coach Sunglasses,perhaps plans to start a business have otherwise been delayed.

There is no limit on how long a company can remain dormant however there are procedures which must be followed to avoid fines and keep the company on the companies house register. Every dormant company must retain at least two officers, a director and company secretary.

The directors are responsible for ensuring the dormant company submits the annual return, form 363, each year which contains details of the directors, company secretary, registered office and shareholders. The companies house filing fee of thirty pounds which is reduced to fifteen pounds if the web filing service is used to file the return online.