How can we become exempt from a CT600 service estimate corporation tax return?
Since the Self-Assessment for tax legislation was brought in many resident management companies have suddenly been presented with corporation tax returns. Because an SMSU-supported management company or right-to-manage company will be a non-profit making, not trade in its own right, and as service charge revenue will be below the taxable threshold a corporation tax return exemption can be claimed. If granted this lasts for 5 years. The SMSU's Legal Services team can lodge a request with the Inland Revenue for a waiver.