Hello,
I need help in completing the HMRC online Accounts and CT600s. I have entered my first period account details which is for 15months ending Dec2019. I now have 2 CT600s to complete which are (a) the first 12 months - Sep18 to Aug19 and another (b) for Sep19 to Dec19. This I understand.
The first CT600 starts with the Turnover amount which is automatically completed with a pro-rata amout of 12/15th. Thereafter is asking for the amounts for Cost of Sales and the other expenses etc. Do I complete all these using 12/15th ratio throughout and similarly the next CT600 using the 3/15th ratio?
I thought you only time apportion once the adjusted taxable profit is calculated for the 15 month period and not the entire P&L income/expenses which seems futile. Can someone please help if this is way HMRC requires it and what is the point or am i missing something? Thanks to all in advance.
Replies (6)
Please login or register to join the discussion.
You might struggle on here.
Agents can't use HMRC software for Corporation Tax so we're not particularly clued up on how it works.
Also Sept-Dec is 4 months. Add that to your first 12 and you get 16 months, not 15. You may wish to revisit this. Though you should be working in days rather than months.