US$ Income / Filing CT600 online

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My company owns the rights to a TV series and associated footage which generates low level income (typicaly US$3,000 p.a. net of U.S. agents commission). Agent collects income from sub distributor of series and sales of footage, deducts their commission and remits the balance to my limited company account. I then pay a 10% royalty to a U.S. based individual. So in a typical year gross profit would be £2,000. That is the only income source for the company. In view of the amounts I am reluctant to ask an accountancy firm to file the tac return.

Two questions. 1. do I have to declare the income as Foreign Trade when completing the CT600. If so I cannot file using the HMRC portal and what would be the best value / simplest software to use?

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By Truthsayer
27th Mar 2021 19:55

You are asking us specifically so you can avoid paying an accountant to deal with it. For that reason you have not been trampled in the rush to answer.

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