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Hi I'm submitting my online CT600 form for the period 2013-2014

Customer Question

Hi I'm submitting my online CT600 form for the period 2013-2014 and I'm completely confused as to what I should enter under Revaluation reserve.
We brought in new assets at £1111, which were then depreciated by £168 giving a Net Book Value of £943.
At the beginning of the financial year there were reserves of £106 and £395 in the profit and loss account and the end of the financial year there were reserves of £501 and £1677 in the current P&L account.
Box AC188 wants the reserve value at April 2013, which is £106, but I don’t know what to put in box AC189 which wants surplus arising from revaluation and box AC190 wants the figure at the end of our current financial year
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise what has given rise to revaluation reserve. DO you have any properties or other assets in the balance sheet that have been revalued?

Are you not confusing the term revaluation reserve with profit and loss account?
Please let me have a copy of your accounts (Balance Sheet - current year and last year) and I will review them for you.

Many thanks

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