Do funds received from start up investor count as income / turnover?
Looking for some guidance around a small start up - now dormant - and how best to file tax for last year... Limited company that made some money in first 2 yrs. We then won some funding for development. Most was paid directly to software contractors for services. However we could claim from the funders for £4000 for work done by ourselves - the work done was itemised extensively and approved by the funders and then paid to our company and then paid to myself. I cannot understand does this amount to turnover? Company income? The company did not operate as a company during this time as all the work was to try and develop an app that would work for the company. So 2020-2022 - company functioned and brought in money. 2023-2025 - company got funding and spent those 2 yrs paying people to make an app and had no income. Company is registered dormant now for 2026. So I think I need to pay tax on the £4000 as self assessment and the company income is zero. Would that be correct? We dont have an accountant and wont be getting one at this stage. Any help much appreciated - also need to consider that I have no spare money to pay tax on £4000.... Many thanks in advance