I have just taken on a client who has a company that has not traded for a few years, but the client wishes to keep the company open.
Each year the previous accountant has prepared full statutory accounts with a profit and loss account that just shows the AR filing fee and accountancy fees as losses, no trading and no income.
I know the statutory accounts still need to be prepared as there are still transactions in the company, however CT returns have also been filed for years in which no trade or income existed. In view of the fact that the company is no longer trading and has no other source of income are CTR's necessary? Or does the company need to be dormant within the companies act definitions before the need to file CTR's disappears?