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.