1. If a property investment company has rental income from its freehold property investment (its only investment at present) , should this income be turnover or "other operating income"?
2. If it is part of a group, can management charges charged by other group companies be an allowable deduction for CT purposes in the prtoperty investment company?
3. Does anyone have a suggestion as to where I might find an example of a property investment company's statutory accounts (small Ltd company), as I need to prepare accounts for the first time for a small property investment co.
Many thanks.
Dick Lloyd
Replies (1)
Please login or register to join the discussion.
Property investment is always Complex
Here is the simple suggetion
1:- Since the freehold property investment as stated is the only investment at present, then it should be treated as turnover,
As to point number 2:- its not that clear for me, but eventualy i will say inrelated with group companies you need to prepare Consilidated accounts(accounts for all the companies at one go) basicaly charges might be shared with in all the Co.