Types of Trade

Last modified 14:59, 12 Apr 2016

Overview

This section describes which trade/business types are supported by CCH Corporation Tax.

Trade types

During the trade creation process, or later in the Tax Return completion process, it is possible to assign a different Trade Type to one or all of the trades in the open client file.

This is done within the Trading Income window.

  1. The default trade Type is "UK trade".

  2. The arrow to the right of the trade type text will display a dropdown box containing all the trade/business types that are supported, as follows:

    • UK trade

    • UK property business

    • Foreign trade

    • Foreign property business

    • Creative Industry trade

  3. The application is 'context sensitive' and will only provide users with screens appropriate to the chosen trade/business type, for example:

  • A number of specific data entry areas are available to Creative Industry Trades that are unavailable to other trades.

  • Property businesses contain fields for property landlords, whereas other trades only allow input of tenant data.

  1. Changing the trade/business type during the Tax Return completion process may cause some data to be lost due to the absence of certain context sensitive screens, so these changes should be made with care.

 

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