Can I take money out of a dormant company?


Hello web users! I am curious to know something: if a company is made dormant while money is in that company, am I permitted to remove that money after that company has been declared dormant?



You can, but your company will not remain dormant. When any funds are removed from (or paid into) the bank account of a dormant company, the company automatically becomes active and, therefore, liable to submit full statutory accounts.

The only payments that can be made from a dormant company’s bank account are late filing penalties and Companies House filing fees.

2 years ago

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