Hello,
I have a few questions and confusions about HMRC's online Corporation Tax return. I've tried calling HMRC but they keep redirecting me back and forth between their tax support and web support.
1.
I'm filing for the period of 1 January 2015 to 31 December 2015. However, for some reason the CT600 has divided my taxable profits from 2015 into brackets of 2014 and 2015 - despite how I have made no indication of that any profits are from 2014. Is there something I'm likely missing or is the system simply broken?
2.
In the computations, I figured the corporation tax paid during the 2015 period should be put as an expense under "Legal and professional charges", since I can't see any other more appropriate field to enter it in. Would I be correct to enter it in that field?
3.
Throughout 2015, the corporation tax was 20% for companies of all sizes. So should I claim the Small Companies Rate even though it didn't apply for 2015?
4.
My company is an SME, and based on how the question is framed I would then seemingly qualify for the Transfer pricing exemption for SMEs. However, it doesn't apply to any of our transactions and feels pointless, so I'm probably correct to choose "No", right?
I have a few questions and confusions about HMRC's online Corporation Tax return. I've tried calling HMRC but they keep redirecting me back and forth between their tax support and web support.
1.
I'm filing for the period of 1 January 2015 to 31 December 2015. However, for some reason the CT600 has divided my taxable profits from 2015 into brackets of 2014 and 2015 - despite how I have made no indication of that any profits are from 2014. Is there something I'm likely missing or is the system simply broken?
2.
In the computations, I figured the corporation tax paid during the 2015 period should be put as an expense under "Legal and professional charges", since I can't see any other more appropriate field to enter it in. Would I be correct to enter it in that field?
3.
Throughout 2015, the corporation tax was 20% for companies of all sizes. So should I claim the Small Companies Rate even though it didn't apply for 2015?
4.
My company is an SME, and based on how the question is framed I would then seemingly qualify for the Transfer pricing exemption for SMEs. However, it doesn't apply to any of our transactions and feels pointless, so I'm probably correct to choose "No", right?
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