Turnover

[G.H.]

Another quick question: what would be the "Total turnover from trade or profession" (= field 1 from the CT600 form) for a consultancy firm ? Is it the same as its gross profit (provided it has no sources of revenue other than consultancy fees) ?

Thanks

 

[borobabe]

Turnover is the income from sales/services I would think its the same for all businesses.

(Now feeling silly in case I'm wrong!)

 

[Jaydee]

what would be the "Total turnover from trade or profession" (= field 1 from the CT600 form) for a consultancy firm?

Total amount invoiced (+/- a WIP adjustment if necessary)