What is a non-trading company?

Non-trading company

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I have a small limited business that is currently not trading; it has a property that it used to rent out but it is now owned by one of the directors who is not paying any rent. (His limited liability corporation is a different entity.)

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A non-trading firm (one that does not do business) may be engaged in other financial dealings on a daily basis. Leasing, salaries, bank fines, and legal bills, for example, must be reflected in the firm's financial records; if this is the case, the company would not be deemed dormant, even if it is not trading.

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Please contact our specialist team at Accotax or email info@accotax.co.uk if you have any questions or if we can assist you in any way.