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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4983
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I am in a loop with filling in CT600.

Resolved Question:

I am in a loop with filling in CT600. I thought I had it sorted out then I get to an error at AC187. Given that it has to equal AC74, I go back to look at AC74 and the only way I can prevent at error at AC74 is to have the call up share value (AC70) at 1 (which is true I think) and take off 1 from the value I thought I should have in AC74 (Profit and loss account). However I thought that value was pulled from AC68.

Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise if this is your first year of filing the accounts and CT600 Return.
If not, advise what has been reported on your annual return to the Companies House.

Complete boxes as applicable and I will review the accounts for you.

PROFIT AND LOSS Box No. This year Box No. Last year
profit or (loss) on ordinary activities before taxation AC32 0 AC33 0
tax on profit or loss on ordinary activities AC34 0 AC35 0
profit or (loss) for the financial year AC36 0 AC37 0
dividends for the period AC38 0 AC39 0
net balance for the financial period transferred to reserves AC40 0 AC41 0
BALANCE SHEET Box No. This year Box No. Last year
intangible assets AC42 0 AC43 0
tangible assets AC44 0 AC45 0
TOTAL FIXED ASSETS AC48 0 AC49 0
stocks AC50 0 AC51 0
debtors AC52 0 AC53 0
cash at bank and in hand AC54 0 AC55 0
TOTAL CURRENT ASSETS AC56 0 AC57 0
creditors due within one year AC58 0 AC59 0
NET CURRENT ASSETS AC60 0 AC61 0
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 0 AC63 0
creditors due after more than one year AC64 0 AC65 0
provision for liabilities AC66 0 AC67 0
TOTAL NET ASSETS AC68 0 AC69 0
CAPITAL AND RESERVES Box No. This year Box No. Last year
called up share capital AC70 0 AC71 0
revaluation reserve AC76 0 AC77 0
profit and loss account AC74 0 AC75 0
TOTAL SHAREHOLDERS FUNDS AC80 0 AC81 0
Difference xxxx 0 xxxx 0

STATUTORY ACCOUNTS NOTES Box No. This year Box No. Last year
profit and loss - opening balance AC184 0 AC215 0
profit for the period AC185 0 AC216 0
equity dividends paid AC186 0 AC217 0
retained profit AC187 0 AC218 0


Many thanks
Customer: replied 3 years ago.

Having just gone through the whole form so I could copy the values across - I clicked next after the AC187 step and it accepted it!!! Bizarre!

So now it lets me to directors report...I guess that means there was some kind of internal glitch...

Expert:  taxadvisor.uk replied 3 years ago.
Thank you for your reply.

If you need further help or information please do not hesitate to contact me again
taxadvisor.uk and other Tax Specialists are ready to help you
Customer: replied 3 years ago.

Actually I spoke too son - can you look at the figures I sent you. Despite it letting me proceed I have an error at AC80 still. The value it says is wrong is 11783. this must equal AC68 which is 11782 in the balance sheet. I must be missing something in the balance sheet to account for the share value.

Expert:  taxadvisor.uk replied 3 years ago.

Thank you for your reply.

Although I have not got your figures, if you have entered 1 for called up share capital Box AC70 then please increase Box A54 by 1 to cover cash paid for that one share.. this will make AC68 read 11,783 and equal AC80.

Many thanks

Customer: replied 3 years ago.

Oh ok that seems to have worked - what a strange form this is. I took cash in bank too literally. Thanks for the quick reply. Fingers crossed for the next steps!

Cheers

P

Expert:  taxadvisor.uk replied 3 years ago.
Thank you