Grants an CT600
jilt
Registered Posts: 2,892 Beyond epic contributor 🧙♂️
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?
Am I blind or just dumb? Can anyone point me in the right direction please?
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You don't put it anywhere unless you are adding it back for some reason.0
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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?0 -
Presuming you have included it within your profit (or loss) before tax figure, it will be on the return and taxed.0
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Thanks Dean, that's what I had originally done, was obviously trying to overcomplicate things., again!
Have a good weekend :001_smile:0
