COMPANY LAW - 12.11.2012
Dormant company accounting rules relaxed
October 1 change. Companies House has confirmed that the recent relaxation of audit rules also means that dormant subsidiary companies will in future not have to prepare or submit accounts providing certain simple conditions are met (see The next step).
Non-subsidiaries. The position fordormant companies which aren’t subsidiaries is unchanged. They must still submit annual accounts, although these need only consist of the balance sheet and the appropriate exemption statements (see The next step).
For the conditions applying to subsidiary dormant companies (CD 14.04.09A) and for the exemption statements required (CD 14.04.09B), visit http://companydirector.indicator.co.uk.
From October 1 subsidiary dormant companies are no longer required to prepare or submit accounts to Companies House, subject to straightforward conditions being met. However, non-subsidiary dormant companies must continue to prepare and submit simplified accounts.
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