4.3 I have my own company and I am out of contract
A Should a consultant out of contract leave the company dormant?
If a consultant thinks that he may use the company again in the future then you should leave it dormant.
The term 'dormant' applies to a company that, in legal terms, has 'no significant accounting transactions' during a financial year.
In this case the consultant notify HM Revenue & Customs and Companies House that it is dormant - the annual costs of keeping the company is minimal.
In the case of HMRC forms P35 will not be issued generally for four years.
The registrar of companies insist that dormant companies must deliver accounts and an annual return (Form AR01) each year and they provide simple forms to be completed by you to achieve this.