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Where Taxpayers and Advisers Meet

how to show income from a property asset sale in CT600 and that it has index relief that makes no tax due

ianw530
Posts:1
Joined:Wed Jan 26, 2022 12:29 am
how to show income from a property asset sale in CT600 and that it has index relief that makes no tax due

Postby ianw530 » Wed Jan 26, 2022 12:31 am

hi, i have a small ltd company that recently sold its sole property after 20 years. have done the CGT index relief calc and no CGT due. however the sale proceeds have given us about £40k cash into the accounts. we were making a loss of about (£15k) apart from this due to no rentals under covid. For CT600 completion am unsure how to correctly treat /categorise the £40k . Other income or ?? and if so how to show the no CGT /corp tax being due on it.

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