Corporation Tax Support

Enter data for a charity, club, or mutual association in Corporation Tax

Many charities, mutual associations and clubs will only be taxable on interest income and perhaps rent. There is no specific format in Corporation Tax for dealing with such entities.
If you have set up a Trading Company in Corporation Tax
:
  1. Enter the profit before tax.
  2. Enter any Disallowable Expenses.
  3. Create an additional disallowance expense item to remove all other expenses relating to mutual activity. To create a new expense heading, select
    Disallowable Expenses
    ,
    New
    ,
    Manager
    , then
    New
    .
  4. Enter all mutual income in
    Non Taxable Income
    .
  5. Enter interest received and rent if taxable in the normal way.
You should thus have a Schedule D Case I profit of nil and PCTCT including only the taxable elements of the company’s income.
If you have set up an Investment Company in Corporation Tax
:
  1. Enter interest received and rent if taxable in the normal way.
  2. No other entries should be required assuming all other income and expenditure is non taxable.
note
The system will not automatically complete the CT600E. Where required, you will need to do so manually by opening the form and entering the relevant details directly on it.

This article applies to:

  • PRODUCT: Digita Corporation Tax