Can anyone help please

Can anyone help please

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I am attempting to use HMRC's Corporation Tax Online filing software to file accounts and computations for a company with a 17 month period of accounts.  I understand that the accounts should be attached to only one of the CT600 returns but I contacted the HMRC online helpdesk to ask what figures should be used in the Detailed profit and loss section of the Computations for each CAP.  I could simply apportion all of the P&L figures 12/17ths and 5/17ths but this seemed a bit pointless as all that was needed was an apportionment of the adjusted profit.  Needless to say, the online helpdesk couldn’t help and gave me the telephone number of another office that didn’t know either but would look into it.

As anyone else encountered this?

Replies (4)

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By Novakova
27th Oct 2011 13:30

12-months APs (or shorter)

At the moment HMRC free CT software can only cope with 12-months accounting periods or under (among other shortcomings).

Purchasing commercial software or advising new companies to shorten their accounting periods would save you a lot of work.

 

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By Euan MacLennan
27th Oct 2011 13:44

Eh?

You cannot have a CT accounting period of longer than 12 months, so it is not surprising that CT Online cannot handle an attempt to file for a 17 month period.

Yes - you need to apportion the profit per the accounts and any disallowable expenses 12:5 and prepare computations for the initial 12 months and the balance of 5 months accordingly.  You then do two CT returns and attach the 17 month accounts to both of them.

Or buy third party software to do it all for you.

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By blok
27th Oct 2011 13:59

.

Agree with Euan, although our software only lets us IXBRL the accounts to the later period for some reason!

 

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By breakaway.barry
27th Oct 2011 14:37

Euan

I am aware that you cannot have a CT accounting period of longer than 12 months, and that you need to apportion the profit per the accounts and any disallowable expenses 12:5 .

The point was that HMRC software does not allow for the apportionment of the profit but appears to require that all the detailed figures in the P&L have to be apportioned between the two computations to arrive at the apportioned profits.  Is it the case that commercial software just does this exercise automatically and IXBRL’s the apportioned figures or does it allow for the full 17 months figures to be used and apportions the profit?

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