I am trying to sign up for a Quickfile account so we can use the VAT bridging software. The portal I have been using has finished its first year low subscription and is noww too dear.
The problem is none of the business categories fit our operation,
We are a not for profit sailing club. not a limited company. not a charity nor a partnership.
Does anybody know the answer or how do I get the answer from QUICKFILE?
Hi @Trinity87
There isn’t a big difference between the type of accounts, but it comes down to a few things like the type of nominal codes and tax settings (a limited company has Corporation Tax for example).
Are you liable for corporation tax? If not, I think Partnership or even Charity (Non-Limited) would be a good fit, otherwise go for Limited Company or Charity (Limited).
As you will be liable for Corporation Taxt HMRC will treat you much the same as a limited company so that is the most appropriate classification.
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