HMRC Company Tax Return CT600

[phayes]

Hi,



I have been contracting in IT for the past 8 years, I did not trade last year, so there was no sales, I went travelling and paid myself a monthly salary, because of this I need to produce accounts still, I am using HMRC CT600 company tax and accounts service PDF tool.

I am getting errors on the balance sheet adding up, I have checked my figures from last year and this year and they add up, I do not understand why the tool is showing an error.

Attached are my figures, if anybody can help me with this I will send them a Christmas present.

https://www.dropbox.com/sh/bcpfy9zo7...VGKSLu0ea?dl=0

Paul.

[Andrew@Wisteria]

Hi,



I have been contracting in IT for the past 8 years, I did not trade last year, so there was no sales, I went travelling and paid myself a monthly salary, because of this I need to produce accounts still, I am using HMRC CT600 company tax and accounts service PDF tool.

I am getting errors on the balance sheet adding up, I have checked my figures from last year and this year and they add up, I do not understand why the tool is showing an error.

Attached are my figures, if anybody can help me with this I will send them a Christmas present.

https://www.dropbox.com/sh/bcpfy9zo7...VGKSLu0ea?dl=0

Paul.

Hi Paul,

Xmas has come early - Here's some free advice!

The reason you are getting the error message is because the total shareholders funds in 2013 and 2014 are £1 and £1,000 respectively. These should equal the total net assets shown in your balance sheet (being £8,127 and £17,584) - but obviously are not at the moment.

The reason for this I suggest is twofold

a) Because you haven't considered/entered the profit and loss brought forward for the years involved - have a look at your previous year's CT600/accounts and you should be able to get the figures from there.

The movement in the net assets between 2013 and 2014 (£9,457) appears to be correct on the basis of the £8,457 losses and the £1,000 dividends in 2014.

b) I doubt the called up share capital figures are correct either - typically they would be the same across the two years!

Andrew Minsky ACA
Partner
Nyman Linden Chartered Accountants

View my LinkedIn profile / recent recommendations here

[phayes]

Thank you very much Andrew and I hope you have a merry Christmas.

I would not usually attempt my own accounts, as I did not trade I thought it would be easy, it was far from it, next time I will use my accountant as it is far less stressful.

I entered the following figures:-

called up capital share for 2013:= 1000
profit and loss account for 2013:= 16,584

called up capital share for 2014:= 1000
profit and loss account for 2014:= 7,127

This is how it was done on last years CT600 for the 2013 values.

Do you think this should resolve the problem?

Paul.

[Andrew@Wisteria]

Definitely worth using an accountant ;-)

That should do it, I assumed you didn't have any revaluation reserve!

[Andrew@Wisteria]

My second message didn't seem to go through but merry Christmas to you too!