Entering negative expense HMRC CT600 online

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There was post about this as far back as 2013. I have a similar situation as that enquiry and I’m using HMRC CT600 Online tool for submitting the company’s accounts. Basically the accrued expense in the previous year was overstated  resulting in a negative figure in this year P&L of about £3000.

The suggestion then was to either increase Turnover or enter it as Other Income in Box AC22. Either way the outcome would have no implication to the profit/loss or Tax. If entering as Other Income in Box AC22, this works fine in the Accounts section but a problem arises in the Computations section.

The only place I could see where income could be entered is as Ancillary Income (Box CP520?). However it won’t accept a figure greater than £1000! Does anyone know where it can be entered in this section or maybe I’ll just have to increase Turnover.

Replies (4)

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By johngroganjga
30th Aug 2019 15:04

It’s just a credit wherever it was debited last year.

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By Duggimon
30th Aug 2019 15:23

Why not leave it in the expense it relates to?

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Replying to Duggimon:
RLI
By lionofludesch
31st Aug 2019 13:25

Because he says the software won't accept it. That's his problem.

As agents, we can't use the HMRC software so we'd just be guessing.

To be honest, it'd just hide it somewhere. If HMRC asked about it, I'd say, "your software wasn't good enough to deal with it properly" and I'm sure they'd accept that without question.

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By RToTo
02nd Sep 2019 10:02

On balance, it seems that it would be best to simply increase Turnover as the result in the P&L and tax would be the same.

Thanks for the replies.

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