Share this content
3

Are comparatives required?

Are comparatives required in the micro accounts submitted with the CT600?

Didn't find your answer?

I have taken on a new small, not for profit corporate client. Their previous (unqualified) accountant was a friend of the director and they fell out. I have requested the previous years accounts and tax return from the previous accountant but she has sent me nothing. The client has a copy of the company tax return and we can obviously access the accounts filed at Companies House, however we don't have the full accounts containing a P&L account. I have prepared the accounts for the current year but don't have full comparatives for the P&L account. Is this strictly necessary or can I submit accounts to HMRC with no comparatives? I can submit filleted accounts to Companies House with comparatives as I have the balance sheet from the prior year. If I do need the comparatives, what should I do?

Replies (3)

Please login or register to join the discussion.

By Duggimon
05th Mar 2021 10:36

Paragraph 3.7 of FRS105 requires comparatives be included.

Your client must surely have signed the previous accounts, and therefore has seen the previous accounts, they must have been sent a copy at some point.

Failing that HMRC do have a copy that was sent with the tax return, I've never tried but you might be able to get that from them.

Failing that I suppose you at least have the income and profit figure, I would try and work out a best guess based on that, it won't go on the statutory filing so it's only you, HMRC and the client who'll see it.

Thanks (1)
Replying to Duggimon:
RLI
By lionofludesch
06th Mar 2021 07:30

Duggimon wrote:

Paragraph 3.7 of FRS105 requires comparatives be included.

Your client must surely have signed the previous accounts, and therefore has seen the previous accounts, they must have been sent a copy at some point.

Ha ha, you're a trusting soul, Duggi.

Thanks (0)
RLI
By lionofludesch
06th Mar 2021 07:28

Well, you should include them in the accounts which accompany the CT600 but, as I remember from the days when we typed numbers in, those comparatives don't actually make it on to the form inself.

I wouldn't worry about it. I certainly wouldn't be re-preparing last years accounts to give HMRC information they had last year.

Thanks (1)
Share this content