File a CT600 with a chargeable gain on property or shares
Taxley works out a chargeable gain when a company sells UK land and buildings, or shares it bought in one go, including indexation allowance up to December 2017, and files it on the CT600. For other sales, such as one to someone connected with the company or a gain postponed by rollover relief, you enter the gain you worked out yourself.
Preparing and previewing is free. You pay one fee per return, only when you choose to file.
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Which chargeable gains can't Taxley work out?
Taxley works out the gain on straightforward sales of UK property and shares; for the rest, you enter your own figure and Taxley files it. It asks a few questions about each sale to decide which applies.
- Other assets. Assets outside the UK, sales in a foreign currency, loan notes, bonds, gilts, fund units and crypto.
- Connected sales and gifts. A sale to or from someone connected with the company, or a gift, which is taxed at market value.
- Reliefs and groups. Rollover relief and other reliefs that postpone a gain, assets from a group company or a reorganisation, and holdings of more than half a company.
- Some shares and property. Shares bought at different times, part of a property, a lease with 50 years or less to run, and assets owned since before 1987.
- The capital-loss restriction. Taxley can't file a return where it may apply, because losses from earlier periods go over the deductions allowance.
- Older periods. Some earlier accounting periods. Before you pay, Taxley checks whether it can file yours.
- Advice. Taxley is software from Taxley UK LLP, not an accountant or tax agent. It doesn't decide whether a sale is a trading profit or a gain, or whether a relief applies.
How does Taxley put a chargeable gain on the CT600?
You list each sale, and Taxley adds the gain to the company's taxable profits. A company pays Corporation Tax on its chargeable gains, not Capital Gains Tax (GOV.UK: Work out a chargeable gain when your company sells assets).
- List the sale. Under "Assets the company sold", enter what was sold, when it was bought and sold, what it cost and what it sold for.
- Answer the questions. They decide whether Taxley works the gain out or you enter your own figure.
- Check the working. Taxley deducts the cost and allowable costs, adds indexation allowance up to December 2017 and applies the substantial shareholding exemption where your answers show it.
- Check the computation. The gain joins the taxable profits, and any capital losses come off it. Unused capital losses carry forward to later gains.
- Pay and file. Taxley sends the CT600, the computation and the accounts to HMRC with the company's own Government Gateway login.
The free chargeable gains calculator works out a gain before you start a return.
What does it cost to file a CT600 with a chargeable gain?
A gain doesn't change the fee: £49.95 with micro-entity accounts or £139 with small-company accounts. The fee also covers filing the accounts at Companies House once the return is paid and finished. Every plan is on the pricing page.
Frequently asked questions
What rate does Taxley apply to the gain?
The company's own Corporation Tax rate: the gain is part of its taxable profits, so the small profits rate and marginal relief limits take the gain into account. Taxley adds the gain to the profits in the computation and on the CT600.
Does Taxley work out indexation allowance?
Yes, for the sales it calculates. Indexation is relief for inflation on the cost of an asset, worked out from the Retail Prices Index, and companies get it only up to December 2017. Taxley works it out from the purchase date.
What if the company sold shares it bought at different times?
Shares bought at different times form a pool with matching rules that Taxley doesn't work out yet. Enter the gain or loss you have worked out for that sale, and Taxley puts it on the return.
How does Taxley tell a gain from trading income?
It asks whether the company bought the asset to sell at a profit as part of its business, such as property development. If it did, the profit is trading income and goes in the trading figures, not the gains. That decision is the directors'.
Does Taxley carry capital losses forward?
Yes. Taxley sets a capital loss against the company's gains in the same period and carries what is left forward against later gains. A capital loss can't be set against trading profits.
Ready to file a return with a gain?
List the sales, check the gain Taxley works out, and pay only when you file.