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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4720
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I'm filling in my ct600 corporate tax return but it won't

Customer Question

Hi I'm filling in my ct600 corporate tax return but it won't move on from tangible assets no error code is it waiting for me to add something else?
I have put my assets in box ac124 and depreciation of 1% in ac128 am I missing something?
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Hello and welcome to the site. Thank you for your question.

Please advise what categories of tangible assets are you inputting?

Also advise what boxes within tangible assets have an x when you look at page Statutory Accounts Notes

Many thanks
Customer: replied 1 year ago.
Hi thanks,
Tangible assets are fixtures and fittings I don't own any property or vehicles .
I own a nursery school run in a church hall,
So only have furniture and toys I also have a computer for work purposes.
Expert:  taxadvisor.uk replied 1 year ago.
Claire, thank you for your prompt reply.

You are stating your tangible assets are fixtures and fittings.

Your input shoud be as follows:
Accounts Section - Statutory Accounts Notes
Please make sure that there is an X in box after Fixtures and Fittings

Further down in the section you will open page that reads Statutory Accounts Notes - Tangible assets: fixtures and fittings
You should input your values in boxes AC124a and onwards

As this is the only category used the net book value should agree with your balance sheet values.

You don't input any values on page Tangible assets: total as these are taken from previous entries.

If this is your first year of operation then entries in boxes AC125a and AC129a and onwards.
If you have been trading for longer than one year then entries in AC124a and AC128a also.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 1 year ago.
Ok so as this is my first year trading. I've taken out total in ac124a and put it in ac125a? Is that right?
I've put a total in ac129a and removed total from ac128a?
I've not added anything else on total page but it still won't move forward and has no error message
Expert:  taxadvisor.uk replied 1 year ago.
Claire, thank you for your reply..

It is your first year of trading...

Lets say input in box
AC124a = 1,000
AC129a = 200 (you are writing off the furniture and toys over 5 years)

You should see in
AC127a = 1,000
AC131a = 200
AC132a = 800

This figure in AC132a should agree with the figure in balance sheet for tangible assets in box AC44.

If the two don't agree, you will get an error message.

I hope this is helpful.
Customer: replied 1 year ago.
Thank you Yes done all that but still stuck on page it does say at the top of the page please review totals intangible assets. Not an error message just at the top of the page
Tangible assets: total
Most confused as to why it won't let me progress?
Expert:  taxadvisor.uk replied 1 year ago.
Claire, thank you for your reply.

I am pleased you have sorted it.

If you are happy and there are no more issues relating to your original question, I will appreciate if you would kindly rate/accept the service I provided to ensure I get credited for it.

Customer: replied 1 year ago.
It still won't move off the totals page!
Maybe it's a software glitch?
Expert:  taxadvisor.uk replied 1 year ago.
Claire, in your earlier posting you stated "Yes done all that but still stuck on page it does say at the top of the page please review totals intangible assets. Not an error message just at the top of the page"

Where do intangible assets come from...
are you sure you have not input any value in Box AC42 instead of AC44 on the balance sheet page?

Please check this. I suggest you save your file, close it and open it again in case there is a glitch.

I hope this is helpful
Customer: replied 1 year ago.
My intangible assets are goodwill as the company existed and was trading before I bought it.
I have input a total in ac42 for this as I
As I believed I was supposed to?
Expert:  taxadvisor.uk replied 1 year ago.
Claire, thank you for your reply.

If you have something in AC42 then you should also complete the page within Statutory Accounts Notes - Intangible assets.

I hope this is helpful.

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