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For CT what is foreign trade?

For CT what is foreign trade?

Hi all.

I have a website that is based in the UK. It is run via my tiny company that is based in the UK. It is a fishing website detailing fishing spots in the UK. My company is registered with HMRC online and has a UTR etc.

The website shows adverts and makes money from these, a tiny amount in the tax year for which I have to report. I have registered with an ad agency who supply the code to put in the site which then shows the adverts.

The advertising agency is based in Israel and pays via Paypal in US Dollars.

My first question is - does this count as foreign trade for the purposes of excluding me from using a pdf CT600 to file the company tax return, or a CT600 (short) for that matter? 

If yes, then I assume I would have to use ixbrl software to fill in my CT600 and file online, but is there a software package for a really small company that complies with the declaring foreign trade income requirements please? I'd like to minimise my form filling and the costs of this process if at all possible.

Many thanks in advance for any assistance from more experienced people out there!


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By alsion
26th Feb 2016 08:40

UK companies need to submit their tax returns electronically via iXBRL, including accounts in iXBRL. HMRC have some free software (posting a link doesn't seem to work but google for this).

Just because you use an overseas supplier to handle the ads / income collection, doesn't make you a foreign trade.  Many UK businesses trade internationally.  If you think you are trading *in* Israel, you would need to additionally register an pay taxes there.

It sounds like you have trading income to me.

Not sure about VAT implications.



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