New HMRC CT600 On line Filing
Having only 8 small companies I do not need to use external software for producing statutory accounts. Excel/Word work well enough for me providing I keep the templates up to date.
Up to recently the PDF method of uploading accounts with CT600 on line worked very well, and took me around an hour to complete calculation and uploading. now HMRC in all their wisdom have changed all this to XBRL I think it is called. Now it takes me at least twice as long to complete this exercise and I cannot pass this on to clients. It seems to me we are doing more and more work for HMRC that they will only need a handful of staff in the future!
The new format is cumbersome, I dread the red error notes. If I have to skip back to beginning of the index there is no way to skip forward again without going through every page. Previous years figures have to typed in. now you would have thought when next year's CT600 becomes due, the current year would appear automatically in next year's previous year. Not so I understand. Whilst Capital gains can be entered there is nowhere I can find where to enter capital losses other than as a note. I had to add my own calculation as an attachment showing capital losses brought forward added to current losses=total capital losses carried forward and available for offset against any future gains.
HMRC on line services are not much help, they easily make the excuse they have no technical knowledge even about the form itself. Anyway I just wondered what others thought about this, is it progress, or just another hindrance. My other fear is that Companies House will go this way too next year, when at the moment it is very easy to stick the accounts in the post- job done.
Incidentally I had to type this out twice as when I tried to see a preview it took me to home page and I lost the submission - Grhhh!
HMRC have sent out some info
http://online.businesslink.gov.uk/Horizontal_Services_files/campaigns/TOPStories5_v4.pdf
I use commercial software already so I won't have a problem.
It does look like accountants with a small number of company clients will be able to find something that they like.
Progress
It's progress for HMRC and Companies House. What they are doing appears to be sensible to me.
You need to get the tools suitable for the job in the future.
I'm sure you don't expect everything to be held back because of people who don't want to change.
I used to use Word and Excel. I moved to dedicated software.
If you are happy with HMRC software (you appear not to be) stick with it but in my experience it's rubbish.