Can I take money out of a dormant company?

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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?

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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.

a year ago
 

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