To complete a CT600 for a property company, follow these steps:
- Open the client in Practice Manager.
- Go to Company Information.
- Tick Company is a Property Business (formerly schedule A taxation).
- Create or open the CT600.
- Go to Company Type (SimpleStep mode) or Information (HMRC Forms mode).
- Tick the box labelled Should the company be taxed as a Property Business (formerly Schedule A)?.
- Open the Tax Adjusted Profit/(Loss) worksheet.
- Enter the information to appear on the computations – such as profit, disallowable expenses, wear and tear.
- Complete Capital Allowances and a Property Losses Record (if applicable).
- Select View iXBRL Tax Computation from the left-hand menu to preview the computations.
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