Grants an CT600

Ltd company has received a small grant, £790. I put it in other income in the accounts but can't see where to put it on the tax return.

Am I blind or just dumb? Can anyone point me in the right direction please?

Comments

  • deanshepherd
    deanshepherd Registered Posts: 1,809
    You don't put it anywhere unless you are adding it back for some reason.
  • jilt
    jilt Registered Posts: 2,903
    Oh god Dean now I'm worried, never come across a business grant before.

    Money paid into bank account and posted to other income. I was told that unless it specifically said that a grant wasn't taxable that all grants are taxable, so presumed it should be included in the accounts as income, but as it isn't from the company's trade or profession I didn't include in box 1.

    There is no tax to pay anyway as the company has made a loss, but how should you treat it?
  • deanshepherd
    deanshepherd Registered Posts: 1,809
    Presuming you have included it within your profit (or loss) before tax figure, it will be on the return and taxed.
  • jilt
    jilt Registered Posts: 2,903
    Thanks Dean, that's what I had originally done, was obviously trying to overcomplicate things., again!
    Have a good weekend :001_smile:
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