This discussion clarifies profit assumptions for various UK proprietorship business codes, including 16019, 14001, 14002, 14009, 14010, 14005, and 15003. It addresses concerns about changing business codes year-on-year and the distinctions between professional services and general business codes like 44AD. For IT/software-related businesses, a 50% profit assumption is mentioned, especially if offering engineering professional services. The advice suggests disclosing the business nature rather than specific codes for clarity.
28 December 2021
50% profit has to be assumed in case you are a engineering professional providing IT services. 44AD can be opted if you are employed people and having office accommodation.