It's unbelieavable some accountants charge over £100 annual fee when submitting your file for a dormant company is this simple. Thank you very much for this video!
Hello Thank you so much for sharing this video, it helped me a lot, by seeing this video now I could able to submit file accounts for my Dormant company, now I have submitted & accepted for the last two years accounts which were due , really a big thank you
I didn't have a submit button show in the popup to submit the type of share. This video helped me persist and scroll down to find this button. Many thanks, it was getting tiring.
Hi, thank you so much for useful information. May I know why did you insert 2 for Called up share capital not paid ? I did not understood it ? What shall i insert for myself ?
I have been trying to use this Companies House service for the past couple of hours, but I can't seem to get beyond the Dormant Account page. Instead of taking me to the next page as in yours, it keeps sending me back to the previous page. Am I missing something, pls? Each time I click on the "file dormant company accounts" link, it goes back to the previous page. What is wrong, pls?
Hi is there a reason you didn’t complete the cash at bank section? My company has been dormant not trading since 2022. I’m currently going through MVL but need to file the dormant accounts to prevent HMRC striking the business off too early . There were small nominal charges that have left the account for some accountancy fees and bank charges. Do I need to deduct these from the last balance sheet figure ? Thanks Rose
Hi Rose Having money go out of your bank for accountancy fees means that these are not dormant accounts. Therefore, you have to file normal accounts. They cannot be dormant. Sorry to be the bearer of bad news.
@@UK-Property-Tax-Accountants Hi so I did check and my accountant had already accounted for those fees for the last return. It was just that they were paid retrospectively. The company has not traded whatsoever, no invoices received. I’m currently going through my MVL, SWORN statement disclosure of solvency completed. They will do the final reconciliation for the nominal charges. I just hope they inform companies house in time. That’s why I’m wondering if it’s worth while filing the dormant accounts. Thanks
We have large sum of expenses to claim the VAT back on in previous years. When filing as a dormant company, will we still be able to claim the VAT back once trading and no longer dormant?
That very much depends on what the items are, what you do, how long the purchase were made. Get in touch and book a tax consultation to get answers to these specific and complex elements 👍
Thank you for quick response. The person who filed dormant account for me told me there's a 25gbp fee I have to pay to the company house. I think he lied me then
Hi, could you please help me in understanding what does these means? 1. Called up share capital not paid. 2. Issued share capital.. I have clicked on help icon but it still does not give substantial clarification.
When a limited company is formed it has a different status for ordinary shares. Firstly pulled up, which means how many shares have been created. Paid, which means money has been transferred from you to the limited company for the share that has been created. Unpaid, which means this year has been created but no money has been transferred from you to the limited company. I hope this helps but to be honest there isn’t much of an issue when it comes to your accounts and the statuses
Thanks so much. It did not accept me entering zero (0) in the spaces as my company, but basically, completely dormand (0 transactions or setup costs since creation) and not even a business bank account created. Also, How do I find out how many shares my company has and their class? It has only one director who is myself, their value is zero (0) as I have not traded yet right?
This is indeed valid provided that there are no transactions during the course of the year. The year and balance sheet numbers must be the same as the previous year for it to be deemed dormant
Thanks for this video, cleared up most of my questions in one go. But I do have one question I'd appreciate if you could answer for me. My company has never traded and listed as Dormant but incurred some expenses along the way. Is it possible to list these somewhere (if so where) and if am able to claim some of this cost back (and again how do I do this)? Thank you
My figures don't add up. My company is dormant, I have some funds left in the bank account which was the same as the previous year. 75 shares at 0.75, unpaid 43.75, paid 56.25. The totals are all over the place 🙄
Hello, thank you for this video, is it possible to appeal company house late account filing penalty fee for company that has been dormant and has not traded since inception.... and impacted as a result of C19.. Thank you in advance...
Whoever submitted them would be able to retrieve the numbers. Also companies House provides you with a public record: www.gov.uk/get-information-about-a-company
Nice attempt at explaining how to fill in the sections. I tried and the website point blank would not accept any figures I put in. An error came up and stopped me validating the submissions. 3 attempts and still no joy. I've emailed companies House and no reply. Not bad for a company with zero income and £400ish in set up costs.
Tell us more about your situation here in the comments box below. Feel free to read our article www.optimiseaccountants.co.uk/knwbase/using-a-limited-company-to-buy-property/. Why not join us at one of our live events? Register here: www.optimiseaccountants.co.uk/monthly-seminars/.
Hi there , this is the first year I need to file the accounts for my company. The only transactions I made are paying the rent for the warehouse and franchisee fee through company account. The amount was my own money transferred to the company account as a loan. Can I still do the accounts on my own without accountant ?
Typically you do not have to submit a CT 600 for a dormant company. However, HMRC on the Tories at sending a demand letter and a penalty notice. As such, we submit CT 600s irrespective of a trading company or a dormant company to be on the safe side. Again, you do not need to do this legally. We just choose to do it to be on the safe side
Request a call back: If you are looking for a new US or UK real estate property tax specialists contact us here: survey.zohopublic.com/zs/80zrXp
It's unbelieavable some accountants charge over £100 annual fee when submitting your file for a dormant company is this simple. Thank you very much for this video!
You are very welcome 🙏
Hello Thank you so much for sharing this video, it helped me a lot, by seeing this video now I could able to submit file accounts for my Dormant company, now I have submitted & accepted for the last two years accounts which were due , really a big thank you
I am delighted it helped 🙏👍
I didn't have a submit button show in the popup to submit the type of share. This video helped me persist and scroll down to find this button. Many thanks, it was getting tiring.
I am delighted to hear it was useful 🙂
Hi sir I'm submitting a dormant form as first time after created LTD and Only 1 share holder what should i put there @2:00
These details will be listed in your articles of association when you formed the company 👍
Hi, thank you so much for useful information. May I know why did you insert 2 for Called up share capital not paid ? I did not understood it ? What shall i insert for myself ?
This relates to shares, which is most likely paid up share capital
This was a huge help. So simple. Thank you.
You’re very welcome 🙏👍
I have been trying to use this Companies House service for the past couple of hours, but I can't seem to get beyond the Dormant Account page. Instead of taking me to the next page as in yours, it keeps sending me back to the previous page. Am I missing something, pls?
Each time I click on the "file dormant company accounts" link, it goes back to the previous page. What is wrong, pls?
Sadly I am not sure what the issue might be. Best to call Companies House
Best of luck to you.
@@UK-Property-Tax-Accountants ok. Thanks.
Do you also have to file a tax return for a dormant company in addition to accounts?
I would always advise HMRC that you have set of dormant accounts and no tax return is to be submitted
What is my assict if I never traded is it 0z as in ur video u wrote ur asset was 2 .
The purchase of shares is the asset for you. The money you invested to buy the shares (cash) is the asset for the company
Hi is there a reason you didn’t complete the cash at bank section?
My company has been dormant not trading since 2022. I’m currently going through MVL but need to file the dormant accounts to prevent HMRC striking the business off too early . There were small nominal charges that have left the account for some accountancy fees and bank charges.
Do I need to deduct these from the last balance sheet figure ?
Thanks
Rose
Hi Rose
Having money go out of your bank for accountancy fees means that these are not dormant accounts.
Therefore, you have to file normal accounts. They cannot be dormant.
Sorry to be the bearer of bad news.
@@UK-Property-Tax-Accountants Hi so I did check and my accountant had already accounted for those fees for the last return. It was just that they were paid retrospectively. The company has not traded whatsoever, no invoices received. I’m currently going through my MVL, SWORN statement disclosure of solvency completed. They will do the final reconciliation for the nominal charges. I just hope they inform companies house in time. That’s why I’m wondering if it’s worth while filing the dormant accounts. Thanks
We have large sum of expenses to claim the VAT back on in previous years. When filing as a dormant company, will we still be able to claim the VAT back once trading and no longer dormant?
That very much depends on what the items are, what you do, how long the purchase were made. Get in touch and book a tax consultation to get answers to these specific and complex elements 👍
How to file an overdue confirmation statement??
The same way as this videos shows for on time submissions
For the dormant account filing is there any fee i have to pay.
Not that I recall when I did it myself
Thank you for quick response. The person who filed dormant account for me told me there's a 25gbp fee I have to pay to the company house. I think he lied me then
@ahmetoff6622 if someone is doing it for £25 then you should be happy as this is cheap
Hi, could you please help me in understanding what does these means? 1. Called up share capital not paid. 2. Issued share capital.. I have clicked on help icon but it still does not give substantial clarification.
When a limited company is formed it has a different status for ordinary shares. Firstly pulled up, which means how many shares have been created. Paid, which means money has been transferred from you to the limited company for the share that has been created.
Unpaid, which means this year has been created but no money has been transferred from you to the limited company.
I hope this helps but to be honest there isn’t much of an issue when it comes to your accounts and the statuses
HI I have a non trading company, do I just fill in a value of 0 for everything?
That would be the correct thing to do
Do you input the shares issued to yourself on setting up the company?
Yes indeed you do
Thanks so much. It did not accept me entering zero (0) in the spaces as my company, but basically, completely dormand (0 transactions or setup costs since creation) and not even a business bank account created. Also, How do I find out how many shares my company has and their class? It has only one director who is myself, their value is zero (0) as I have not traded yet right?
Companies House is your first stop 👍
@@UK-Property-Tax-Accountants I have the same question, where at Companies house would I find out that information for my company?
@Katie-Lei please use this link
www.gov.uk/get-information-about-a-company
Is this valid for a company that has traded for several years and now wishes to be dormant? Said company has has no trading for past full year
This is indeed valid provided that there are no transactions during the course of the year. The year and balance sheet numbers must be the same as the previous year for it to be deemed dormant
If you are not trading / have no investors, why does it not allow you to submit 0 for "called up share capital not paid"?
You would need shareholders to buy the shares and paid the money
Thanks for this video, cleared up most of my questions in one go.
But I do have one question I'd appreciate if you could answer for me. My company has never traded and listed as Dormant but incurred some expenses along the way. Is it possible to list these somewhere (if so where) and if am able to claim some of this cost back (and again how do I do this)?
Thank you
You can put these expenses into the accounts but the company will no longer be dormant
That makes so much sense. Thank you Very Much.
You are always welcome 🙏
Very helpful and straighforward. Thankyou
I am delighted to see that it was helpful 🙏
Can anyone send me the link of company house
find-and-update.company-information.service.gov.uk/
Thanks for this video. It was of great help.
I am pleased it helped 👍
My figures don't add up. My company is dormant, I have some funds left in the bank account which was the same as the previous year. 75 shares at 0.75, unpaid 43.75, paid 56.25. The totals are all over the place 🙄
Please get a local accountant to help you
Hello, thank you for this video, is it possible to appeal company house late account filing penalty fee for company that has been dormant and has not traded since inception.... and impacted as a result of C19.. Thank you in advance...
It is possible for you to write a letter to companies house with a reason for the delay.
You may need to do the same with HMRC
@@UK-Property-Tax-Accountants Many many thanks for your help....
You are very welcome
Hi, How can I see what I put for previous years dormant accounts? Any help appreciated.
Whoever submitted them would be able to retrieve the numbers. Also companies House provides you with a public record: www.gov.uk/get-information-about-a-company
If no shares have been issued what do you enter?
A company cannot be formed if no shares have been issued because the entity has no ownership
good one
Thank you 🙏
@@UK-Property-Tax-Accountants no thank you
Brilliant!
I am glad that you found it useful 👍
Amazing, thank you.
You are very welcome 🙏
It was very helpful thank you
You are very welcome 🙏
Thanks Simon
You are welcome
Thank you.
You are very welcome 🙏
Nice attempt at explaining how to fill in the sections. I tried and the website point blank would not accept any figures I put in. An error came up and stopped me validating the submissions. 3 attempts and still no joy. I've emailed companies House and no reply. Not bad for a company with zero income and £400ish in set up costs.
So sorry to hear that you are having issues. Keep trying as they do eventually come back to you
I am in the same situation, what did you do?
Tell us more about your situation here in the comments box below. Feel free to read our article www.optimiseaccountants.co.uk/knwbase/using-a-limited-company-to-buy-property/. Why not join us at one of our live events? Register here: www.optimiseaccountants.co.uk/monthly-seminars/.
Hi there , this is the first year I need to file the accounts for my company. The only transactions I made are paying the rent for the warehouse and franchisee fee through company account. The amount was my own money transferred to the company account as a loan. Can I still do the accounts on my own without accountant ?
You can certainly give it a go if you are confident in your approach and have the systems in place
thank you
You are very welcome 🙏
Great Sir😍
Thank you.👍🏾😁
Do we have to submit CT600 for a dormant company?
Typically you do not have to submit a CT 600 for a dormant company. However, HMRC on the Tories at sending a demand letter and a penalty notice. As such, we submit CT 600s irrespective of a trading company or a dormant company to be on the safe side. Again, you do not need to do this legally. We just choose to do it to be on the safe side
Thanks someone tried to charge me for £270 for this service
That seems a fair and reasonable price nowadays given that a qualified accountants salary is circa £50k outside of London and circa £70k in London
Such a scam that my accountants tried to charge me £300 for this.
To be fair it does take time to get details from clients but as you can see DIY is much cheaper and not a hard job at all
Thank you 👍🥳👍👍
Thank you, you are very welcome