Company managing a blocks of flats


T

Troy Steadman

There are very many of them but I wonder how many people who live in
flats realise how the tax works?

1 High St Ltd manages a block of 32 flats at that address and is owned
by its residents who have 1 share per flat. It's income and
expenditure is:

INCOME
Service Charge/Maintenance Charge £32K
Bank Deposit Interest (gross) £10K

EXPENDITURE
New Roof (£100K)
Managing Agents (£5K)
Electric, Water etc (£5K)
Accountant (£2K)
----
Deficit £(70)
====

Any non-professional care to have a go at 1 High St Ltd's Corporation
Tax Computation?
 
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D

DoobieDo

There are very many of them but I wonder how many people who live in
flats realise how the tax works?
Any non-professional care to have a go at 1 High St Ltd's Corporation
Tax Computation?
Do your own homework
 
G

Guest

Have a go - > No thanks

itll just be the interest
the rest is basically mutual loan in and out expenditure or like.

gets u rolling - Do your own homework!
 
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