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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4939
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I'm being told on my CT600 that AC60 and AC61 cannot be negative

Resolved Question:

I'm being told on my CT600 that AC60 and AC61 cannot be negative figures. I can't get any further. Can you help?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
and welcome to the site. Thank you question.

I am surprised at that because I recently filed a CT600 return client that showed negative figures in Boxes
AC60, AC61,
AC62, AC63
AC68-AC69.

I am happy to look at your figures .

Please advise
Customer: replied 2 years ago.

CT600 screenshot

Expert:  taxadvisor.uk replied 2 years ago.
Rob, thanks reply

I will revert to you shortly.. I wonder if they is a glitch in Micro-entity company filing.

Many thanks
Expert:  taxadvisor.uk replied 2 years ago.
Rob, thank you patience.

I have keyed your figures using Companies House filing service as opposed to HMRC CT600 return software and the figues were validated.

I tend to use the normal abbreviated accounts model and not the micro-entity model. I suggest you do not use the micro-entity balance sheet version.

I hope this is helpful.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond. Please only rate my answer if it is acceptable.

Expert:  taxadvisor.uk replied 2 years ago.
Here is my validation

Micro-entity Accounts

30 April 2014

Micro-entity Balance Sheet as at 30 April 2014


Notes 2014 2013


£ £
Current Assets 10,885 9,645
Creditors: amounts falling due within one year (10,891) (10,841)
Net current assets (liabilities) (6) (1,196)
Total assets less current liabilities (6) (1,196)
Total net assets (liabilities) (6) (1,196)
Capital and reserves (6) (1,196)
  • year ending 30 April 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on 28 January 2015

Customer: replied 2 years ago.

Yes, it does appear to have been a glitch with the micro-entity setting. Went through just now with just abbreviated accounts. How annoying. Do you think I should appeal the penalties?

Expert:  taxadvisor.uk replied 2 years ago.
Rob, thank you reply.

You have good grounds to make a case. Save the screen shot?
You have to be certain the glitch was cause and not the delay in filing that brings a penalty.

I hope this is helpful and answers your question..

If you are happy and there are no more issues I will appreciate if you would kindly rate/accept the service I provided to ensure I get credited .

taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4939
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 2 years ago.
I thank you my answer.

Good luck.

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