Revaluation

Revaluation

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Hi,

I hope someone can help me with this.

I am trying to submit a CT return online, using the HMRC software. The accountant has already prepared the accounts.

It is revaluation of land. The value has increased by 31,153. he has put only 21,000 in the revaluation reserve. The balance has

gone through the DCA. I have no idea why. I would have thought it should be

Dr. land               £31,153

Cr.Revaluation   £31,153

am I correct?  The revaluation account is not tallying and i am unable to proceed to the next page on the CT return.

 Pls help. 

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By pembo
18th Oct 2012 16:10

strange

may be stating the obvious but are you sure the director did not spend £10183 on the land before it was revalued ? Otherwise your presumption is correct if the only change was the revaluation.

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