How to account for 1p by Paypal
- Thread starter cal_2019
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arnydnxluk
You should find your sales account rounds down to £0 and the Corporation Tax due in this case should be £0. HMRC only works in whole pounds IIRC.
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Victoria_V
Hello!
It is a type of income, but corporation tax returns and all the figures entered on the corporation tax return are always rounded down to the nearest pound by the HMRC, so in this case, the £0.01 will be rounded down to £0 and the corporation tax due on it will also be rounded down to £0 as you have no other income in the year.
It is a type of income, but corporation tax returns and all the figures entered on the corporation tax return are always rounded down to the nearest pound by the HMRC, so in this case, the £0.01 will be rounded down to £0 and the corporation tax due on it will also be rounded down to £0 as you have no other income in the year.
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