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Corporation Tax CT600 Submission for Self-managed Landlords (£5200 limit)


challisj

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Up to now I have successfully self managed my property affairs without the need for an accountant.  I now come to submit my first CT600 for my property company (for its first full year).  I have come across the following obstacles on the HMRC web site after I logged on for my Property Co.:

  • Unable to submit rental income more than £5200 per annum
  • Property expenses cannot exceed the rental income

My rental income in the first year is more than £5200 (good) but I also had a lot of expenses so I made a loss in that first year

Please can anyone help with how I submit my Corporation Tax return in this situation and other people's experience?  All of the accountants I have asked have just said that I need to come to them and use 'software'.  Surely having come this far I can get it over the line somehow in a cost effective manner without needing to pay for additional services that I do not need

Other people's experiences who have not reached for an accountant to do it for them would be most welcome.

Regards

Jonathan-Challis.jpg

The Nottingham Meetup takes place on the first Thursday of every month, find out more here

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  • 2 weeks later...

In the end I was forced to use accountancy software to do the submission since this s/w does not have the limitations of the HMRC front end web site.  I cannot help but thinking they did this intentionally to remove the need to cater for these potentially complex situations.

Oh well, onwards...

Jonathan-Challis.jpg

The Nottingham Meetup takes place on the first Thursday of every month, find out more here

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