corporation tax return -- how to calculate sales?

[darrenb]

Hello, when you're reporting business income for your corporate return, do you report money actually received, or invoice totals?

In other words if an invoice was raised before the end of the tax year, but wasn't paid until after the end of the tax year, does it still count as sales for that year?

[VectraMan]

Unfortunately CT goes on the value of the work, which not only includes what you've invoiced but not been paid for, also technically includes work you've done but not invoiced for yet.

For my Plan B co. I had to pay about 75% of the companies funds out as CT because so many of the invoices hadn't been paid.

[darrenb]

OK thanks, that's the same as what my accountant said. I just found it difficult to swallow.

[northernladuk]

OK thanks, that's the same as what my accountant said. I just found it difficult to swallow.

We are ,after all, more qualified than your accountant to advise you on such matters of course.

[Jeebo72]

We are ,after all, more qualified than your accountant to advise you on such matters of course.

The guy was just asking for some advise, why do you spend all your time having a dig at people? I'm guessing you were bullied at school...

[Platypus]

why do you spend all your time having a dig at people?

Did you bother to use the 'Search' facility before asking that numpty question? Why oh why .....

[Jeebo72]

Did you bother to use the 'Search' facility before asking that numpty question? Why oh why .....

;-) Some humour, at last!!! ... at least i hope so

[Platypus]

;-) Some humour, at last!!! ... at least i hope so