British companies operating in the UK need to apply for annual review every year.
3. A company that does not operate in the UK can be declared as a dormant company, and the company will operate in time to avoid the financial expenses of accountants and related matters of tax payment.
4. The annual audit of British companies is increasingly different from the annual report date of dormant companies. Annual review can be done once every 28 days, and dormant companies report once a year. Because each annual review will generate corresponding government expenses, it is enough for a general company to conduct an annual review once a year to ensure the legal operation of the company after its establishment.
5. The annual report time of dormant company is 12 months after the establishment of the company as a financial year. The annual report time can only be changed once every five years.
If it is not handled within 6 months after the expiration of the annual review, the company will be forced to cancel. Companies that have been forcibly cancelled can be restored, but the cost is quite high, and the cancellation time is getting longer and longer, and the cost of restoration is also higher.
After registration, British companies must be maintained in time to ensure the stable operation of the company.