Can I place money into a dormant company?

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Morning, I need to know whether it’s okay for me to place money into a dormant company. It’s not an investment or anything, I just thought it might be a good place to keep savings. Please advise.

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No - If you put any money into a dormant company’s bank account, other than payments from the subscribers for their shares, or cash to pay your Companies House filing fees late filing penalties, your company will no longer be dormant - it will be considered active for trading purposes and you will have to register for Corporation Tax and submit full annual accounts.

To avoid jeopardising your company’s dormant status, do not open a business bank account until you are ready to start trading. If you have an account already, it might be best to close it because even bank charges and interest will invalidate a dormant trading status.

a year ago
 

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