legal, business-plan, private-companyThe title above is the basic question I want answering.
I have a company that has never traded since it was initially created, and won’t be trading for at least another three months. However, I was on the Government’s website and they had a bit of a contradiction, which made the entire message a bit vague.
I.e.
When your company or organisation has not yet started trading HMRC considers that your company or organisation has not yet become active or started trading if it has not yet engaged in any business activity (business activity means carrying on a trade or profession, or buying and selling goods or services with a view to making a profit or surplus).
But notice “may” as seen relative to the above paragraph here.
Then through the rest of the page nothing states as to how I can find this out.
I am pretty sure that based off of the above my company is considered dormant by HMRC, but as you can see it is a little vague, so I was hoping if someone could clear this up for me.
Thanks in advance!
No. This is based upon person experience. I started a company in the UK several years ago with a view of trading with it later. I still had to submit annual returns (showing all parts at “nil”).
I would suggest that you write them a letter (yes, I know old fashioned). The online forms are not as effective. Explain that the company is not trading. Although, as you are only waiting for 3 months before trading it will not matter as much. Happy to expand on the answer if it helps?
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