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CT600 Query

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Hello everyone. 

I very much hoped someone could please give their opinion, and I apologise if it is a stupid question!

I have this week taken on a new client, a very small company, with the only activity relating to just one investment property, and turnover is only around £10,000.  The company was formed three years ago.  

After professional clearance, and reviewing the previous CT600s, it would seem there was a small loss of £500 remaining (it appears the loss started in the first year, rolling forward, with £500 left on last CT600). 

But, it has been treated on the CT600 last year as a trading loss, when it should be a property loss. 

I have never come across this before, so I thought perhaps would it be ok to simply bring the loss into this year's CT600, and record it as a property loss brought forward, even though it was previously treated as a trading loss?

As you can see, these are small sums of money, but I want to get it right!

Thanking you for any help you can give. 


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By Wilson Philips
11th Sep 2020 13:56

If, as a matter of fact, it is a property income loss I would just reflect that in the current return/computations.

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