J
jackfrost10
Guest
Hi folks,
Filling in my CT1 Form now and its a bit more complicated than i expected. Basically I have a one man software company (set up last year) that I use to do both in-house software development (no sales from this as yet) and as a contracting company where I will do software development etc. for the other party. The only income currently coming into the company is the money I get from this work (no rent income etc.).
I have two questions: am I entitled to the corporation tax exemption (income would be a good deal below the 40,000 bracket). I am unsure as to what constitutes a 'professional service'.
Also would I be right in assuming that most of the fields on the return will be 0 apart from "Trading Results"? If I am indeed tax exempt, do I need to specify this anywhere?
Thanks!
Filling in my CT1 Form now and its a bit more complicated than i expected. Basically I have a one man software company (set up last year) that I use to do both in-house software development (no sales from this as yet) and as a contracting company where I will do software development etc. for the other party. The only income currently coming into the company is the money I get from this work (no rent income etc.).
I have two questions: am I entitled to the corporation tax exemption (income would be a good deal below the 40,000 bracket). I am unsure as to what constitutes a 'professional service'.
Also would I be right in assuming that most of the fields on the return will be 0 apart from "Trading Results"? If I am indeed tax exempt, do I need to specify this anywhere?
Thanks!