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Ltd Company 2 separate business activities

Ltd Company 2 separate business activities

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Hi, I have a limited company client who has 2 separate business activities within his company. All being ran through the same bank account and business name etc.

I know that I need to split the businesses for the CT600, but do the accounts that I attach with the CT600 to submit to HMRC have to show the split or can it show the combined figures.

From my understanding you are only required to split the businesses for corporation tax purposes to show HMRC for profits and losses offsetting etc. Companies House do not require you to split the businesses.

My software Digita have advised me that I will not be able to import the accounts data from AP as it doesn't have the ability to split the businesses in AP or during the import. So instead I will have to manually enter the 2 separate businesses on CT. Also as the AP doesn't have the ability to split the businesses it will only produce the overall accounts figures to send to Companies House and attach to CT600 for HMRC.

Would you agree that this is correct then? Or have you had any experience of this please?

Thank you for any advice and comments in advance.

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By The Grammar Police
06th Nov 2015 12:43

No split.

The company accounts show the position for the company as a whole. Except by way of note on the Directors' Report no breakdown of the business is required.

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