I know you need to submit a full set of accounts and computations with the CT600 ( and not the abbreviated) but do you need to send the detailed P&L information.
If there is not any requirement to do this then is there any benefit ?
Toby
Replies (4)
Please login or register to join the discussion.
What have you got to hide?
There is no big deal in preparing a detailed P & L. If you don't submit one you are, IMO, asking for an enquiry - unless you're trying to slide something past the inspector?
Big enough benefit?
Euan is correct
As ever, Euan has provided an accurate and concise supplement to the thread. You should supply HMRC with all information that you are obliged to according to your circumstances. But why supply more than you need to?
Recommended
Although it is clear from the Note in CTM93180 that there is no legal requirement to file a detailed P&L as part of the accounts, because they should be the full (not abbreviated) statutory accounts, a detailed P&L may well be required as part of the computations, according to CTM93210
For example, if you are disallowing entertainment, you would need a detailed P&L to disclose the amount of entertainment in the accounts.
No favours
Why give them something you do not need to? They won't congratulate you for providing them with fine detail. If anything it will be used against you. The detailed P&L is prepared for the benefit of the directors, not HMRC. If they want to see anything more than you have provided, they can ask for it.