Hello,
Can anyone help please? I am filing my CT600 for a limited company and there are only two lines to complete. A bill which was accrued for last year came in less and the result is a credit balance on professional fees. The CT600 will not allow a credit balance, only whole numbers, it says X-error only whole numbers ? Any suggestions, without entering this I wont pay enough tax,
Thanks
P
Replies (9)
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I think you must mean that you are using HMRC's online software to prepare your company's accounts. The CT600 is in fact the tax return that will come after you have completed the accounts.
HMRC's online accounts production software is well known to all accountants not to be fit for purpose, and no accountant worth his or her salt would ever use it. You seem to have stumbled into to one of the many reasons why that view is held.
If this is a one off requirement for you the work-round I would suggest would be to add or deduct the credit balance on professional fees from your other figure, so that at least the profit or loss will be right in overall terms.
I am not sure what you mean by the "micro accounts filed". If you have already prepared and filed the accounts why are you reinventing the wheel on the HMRC website?
Well I am puzzled then. The accounts figures (apart from the profit before tax) don't go on any CT600 that I have ever seen. They stay in the accounts that are attached to the return, but they are not reproduced in it.
There is only 1 figure from
There is only 1 figure from the accounts on the CT600 - the turnover. The profits chargeable to corporation tax are taken from the tax computation.
Baffled
It baffles me why the CT600 keeps asking for the turnover when it's entered at two or three other points in the process.
It's like talking to someone with Alzheimer's. Which is something of which I have a great deal of experience, sadly.
Yes turnover goes on the return, which I should have mentioned, but forgot because it plays no part in the calculations.
No turnover
Is the problem something as simple as the CT600 not recognizing the company as trading because there's no turnover ?
Or the OP trying to enter the pence and not "whole numbers" ?
The work-around might be to enter the overclaimed expenses as turnover.