Half of Scots firms are not trading

MORE than half of Scottish companies are lying dormant while inactive subsidiaries are costing their owners nearly £100,000 a year in wasted accounting and tax reporting, accountancy firm Deloitte claimed.

Subsidiaries that are no longer trading cost the average company £93,000 each year, the firm said, with the total rising to more than £350,000 for larger public limited companies.

Deloitte said new accounting rules introduced in April meant that firms should now streamline their group structure in order to save money.