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CT600 HMRC Corporation Tax - X Error

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    CT600 HMRC Corporation Tax - X Error

    hi there - can anyone help with the errors i am getting when trying to fill out the HMRC CT600 form.

    In short the trading for the year is as follows:

    turnover = £10,859.00
    cost of sales = £1,304.00
    admin expenses = £10,288.00

    loss for year = £733.00

    cash at bank at year end = £733.00

    paid up share capital = 2 x £1 shares


    here is a list of screen grabs showing where i have inserted my figures:


    if anyone can help - it is much appreciated as going round in circles at moment - thanks very much - david








    #2
    CT600 HMRC Corporation Tax - X Error

    How can u have a loss and and cash at bank for same amount?

    Comment


      #3
      Is this the first year? Where's the money come from? If you've put your own money into the company, then you're a creditor, and you'd have to account for that. I think that's the second problem.

      The first problem is one I've had, and you have to poke in the £2 somewhere.
      Will work inside IR35. Or for food.

      Comment


        #4
        As above, you can't have a cash balance equal to your loss. Should it be a directors' loan of £731, which would then balance to your loss of £733 less shares of £2?

        Do you not have a set of accounts with a balance sheet? I presume you've prepared them so you can file at Companies House too.......?
        ContractorUK Best Forum Adviser 2013

        Comment


          #5
          Do you have an accountant - if not I think you should get one
          Connect with me on LinkedIn

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          ContractorUK Best Forum Advisor 2015

          Comment


            #6
            Hopefully you are filling in the CT600 from a set of prepared accounts. If so it's pretty straightforward; if not pain follows.

            ZED.

            Comment


              #7
              Originally posted by zedAccounts View Post
              Hopefully you are filling in the CT600 from a set of prepared accounts. If so it's pretty straightforward; if not pain follows.

              ZED.
              ContractorUK Best Forum Adviser 2013

              Comment


                #8
                Unfamiliarity with Double-Entry accounting system leads to much confusion.

                Pay an accountant to do the accountant bit and pay yourself to do the earnings bit...
                I was an IPSE Consultative Council Member, until the BoD abolished it. I am not an IPSE Member, since they have no longer have any relevance to me, as an IT Contractor. Read my lips...I recommend QDOS for ALL your Insurance requirements (Contact me for a referral code).

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