One year on after registering a company but still setting up and Inland Rev told, do I need to file anything?

Is it okey to keep registered even if your Financial year has not commenced yet? I am getting worried at the moment for I am still busy gathering some assets and looking for a property to rent. I might be starting in at least 6 months time from this date. Will it make any differences if you set it to a dormant company. Your professional answer to this will be highly appreciated.

Answers:
Hi there

If you have a registered company but you have not started to trade then the company is classified as "dormant". however you must inform the Inland Revenue (IR) that the company is dormant.

I have checked with IR and they confirmed that unless you are actually receiving revenues from trading you can leave the company as dormant.

So, without knowing the specifics of your business it appears that you are not taking revenues, only investing (paying out), so you can leave it as dormant from an IR perspective.

PS - you will still need to keep accounts and records of expenditure for offset against future incomes, etc.

I hope this helps
if you are not earning dont worry about it, the inland revenue is looking for revenue not company names.
Yes it is ok. If the IR want any information they will ask you for it and you can just tell them you have yet to commence trading.

Best of luck with your ventures.

The answers post by the user, for information only, UKQnA.com does not guarantee the right.

  • I don't know how to deal with work situation?
  • i want to find out what incentives/offers the abbey are offering existing mortgage customers to stay with them
  • what percentage of adverts allowed in print media per magazine in russia where can i find reference for this?
  • yes ye ssdasdassafdfdsfdsfdff?
  • abbey national credit card : on 15 may new terms and conditions were sent out - did you get them?.?
  • anybody gone through an agency recruitment?
  • How Would i go about applying for a job on a cruise liner?
  • What would make you join a mailing list?
  • I have heard a rumour that Amtrak have gone bust (UK parcel carrier).?