Software for property company tax return?
I owned properties in my name and completed self assessment returns. I set up a company and eventually bought property through the company and submitted dormant returns.
This is the first time I need to submit a return for the company. I collated all the figures, but when I tried to complete the return for the company the HMRC site says it’s not eligible as turnover from property is over £5200.
It seems I need to submit using specialised tax software so does anyone have any suggestions what to use?
I only have 3 properties and have always done my own accounts, so would prefer to submit myself rather than use an accountant if possible.
Thanks in advance for any guidance.
Sarah
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Member Since February 2011 - Comments: 3454 - Articles: 286
6:51 AM, 3rd January 2020, About 6 years ago
Hi Sarah,
The big two most recognised by HMRC have always been Quick Books and Sage.
We do use our accountants Pacific but also Quick Books as the software platform.
Member Since October 2017 - Comments: 105
9:20 AM, 3rd January 2020, About 6 years ago
I don’t think you can submit accounts via QuickBooks or Sage, although they are good for the bookkeeping side. I have been told that Taxfiler is good.
Member Since August 2018 - Comments: 158
10:30 AM, 3rd January 2020, About 6 years ago
Yes, this is really annoying.
I use Forbes software. It costs £60 per annum for the ‘unlock’ code to allow the CT600 to be submitted in IXBRL format. I prepare my accounts in Excel then simply type the trial balance figures into Forbes and submit. It’s a bit more complicated than that but it does work.
Their website is http://www.tax.co.uk
Tel 01908 584674
It might be worth phoning to discuss which package you need to download. I think it is Protax but all my accounts stuff is on the desktop and it isn’t turned on at the moment.
They sometimes need a couple of calls.
Good luck
Member Since April 2014 - Comments: 38
4:04 PM, 4th January 2020, About 6 years ago
I’ve just submitted our company return via the Companies House web site via file and return using micro entity accounts, so it automatically follows on to the CT600. I’ve never used external software.
Member Since July 2015 - Comments: 393
4:15 PM, 4th January 2020, About 6 years ago
I use Taxcalc for the SA return, but accountant does company return. Inform Direct (basically free) is great for helping with Companies House filing, reminders and PSC return.
Member Since August 2014 - Comments: 46
10:14 AM, 5th January 2020, About 6 years ago
Hello Sarah,
We use Brian Carroll’s software (https://easyfiler.co.uk). He charges £25 for converting account from excel/word to IXBRL and £15 for CT600 submission.
Member Since February 2015 - Comments: 2
4:16 PM, 8th January 2020, About 6 years ago
Thanks everyone for your comments and suggestions. I’ll contact the options you suggested and take it from there. In the end I submitted the online company return and put the income in a different area as I just needed to check whether I owed any tax before the payment deadline. I then phoned HMRC and explained that I’d used the wrong form. Interesting ly they told me to send in a paper CT600 with the property income in the correct box and just make sure I have the correct software for next tax year.
Member Since August 2021 - Comments: 2
3:32 PM, 19th August 2021, About 5 years ago
Hi, I’ve just hit the same problem… I’ve submitted micro entity accounts via the joint HMRC / Companies House tool but when it then goes onto the CT600 I’m unable to enter the income in the correct sections as rental income is over £5200. I could just stick the income in the turnover section rather than property income section, but I’d like to get it right. HMRC say they are unable to advise