Members Company tax calculation

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1

Hi,
I’m taking over as Treasurer for my local cricket club. I’m not an accountant, but i’ve used Quickfile to run several limited companies over the last decade. Those companies were standard Ltd, VAT registered ones and I used Quickfile to calculate a Corporation Tax figure.
The cricket club is a not-for-profit Members Company and has been since its formation decades ago. From my understanding, CT is therefore only payable on profits made from any commercial activity or grants, rather than membership fees, match fees or member’s bar takings.

I was just wondering what is the best option to choose to setup Quickfile. The company isn’t listed as LTD on Companies House or charity registered, but is registered for CT.
Looking at previous posts that had some similarity to my issue, it seemed that the Limited Company option was the one recommended, but if using that, how would I ensure that income from members isn’t included in the CT calculations?
Many thanks, Paul

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Hi @PaulHersham

The Corporation Tax tool in QuickFile is only for guidance, the actual figure would depend on the return compiled by your accountant at year end.

As it’s registered for Corporation Tax, I believe Limited Company would be the best option.

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Hi Mathew,
Thanks for your reply. Couple of things to clarify;
Ideally i’d like to use Quickfile to file the annual accounts and Company tax return as the HMRC online filing service previously used is closing on the 31st March 2026. Is Quickfile able to submit these filings?
Secondly, is it possible to tag an invoice or payment so that it is not included in the CT calculations, or is it something that would have to be done manually at year end? If the latter, then how would that work with CT filings?
Thanks,
Paul

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Not at this moment in time. There’s more about this in this thread: The online accounts and Company Tax Return service is closing

In short, it depends.

If it’s just the calculation within QuickFile (the estimated one), you can set add-backs for nominal codes, so they’re added back into the calculation. Likewise, you can do it for deductions, too.

If it’s more of the calculation at year end, it may depend on your accountant. It may be the case of using different nominals for different income (maybe even as simple as having a separate nominal for “non-CT income” or something similar), or you could use project tags which can be applied to invoices. This would generate a profit and loss based on everything with the same project tag, but it would allow your accountant to single these out when preparing the accounts.

Hope that helps!

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Perfect, that will work. Thanks Mathew.

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