Hi - could someone please help me to clarify the completion of a CT600 and the corporation tax liability.
I have a new limited company client with a portfolio of 3 commercial properties (Freehold). The company is owned by 3 members of the same family.Their only source of income in the year is rent received from these properties which are let at an arms length transaction on short leases. The company's business is buying properties which it renovates and lets or maybe sell.
My question is:
a) On the CT600 is this classified as "a trading company" or a "Close investment - holding company". Hence will it be allowed to be taxed at the small companies rate of corporation tax (of 19% in 2017/18).
Thank you in advance.
Manhar
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