"Hi Liz, In the case of the CIC what I believe would be the turnover (based on the fact I haven't prepared the accounts) would be:
Income received in the year for services delivered in the year, together with
Income received from grants which…"
"Hi Andrew, thanks for your reply.
Im stil not sure what figure to use for 'turnover" its 'what' plus/minus/divided by 'what'? Its a Turnover figure that the software asks for.
Regarding set up costs - these included a…"
"Hi Liz, I think I have this right but please tell me if I have misunderstood. The turnover you will use on the Corp Tax reporting to HMRC will be the one used on the company accounts. However if you mean profit then for HMRC they want to see…"
Hi. Ive worked out our first Annual Accounts following previous advice and questions on this forum. However, having submitted our accounts to Companies House, which have been accepted by CH, I now have to tackle Corporation Tax. Ive been on line to file the accounts - but following and answering the various questions, I got to one which asks: - "foreign currency transactions - where you are paid or pay someone in a currency other than pounds" I ticked yes to this, as we were sucsessful in…See More
For any accounting related queries, including accounts software package questions, grants and trading income treatment, HMRC or Companies House queries/issues, tax reliefs for CICs, links to useful finance information etc