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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I am a little bit stuck with my corporation tax return. I have very simple tax affairs and

Resolved Question:

I am a little bit stuck with my corporation tax return. I have very simple tax affairs and am finding the ct600 a bit confusing to fill out. I have the figures, turn over, expenses and profit before tax and I have paid corporation tax. I just need to know which number to put in which box.
My company was dormant 2012-2013 so profit and loss 0 for first year.
This year I have made £19000 turnover, staff expenses £7800, Other expenses £9650 so Profit before tax £1550.
Corporation tax at 20% £310 which has obviously already been paid by 31st of Dec 2014.
What do i put in square AC34 and AC40?
And what figures do I put in which box on the balance sheet?
My business is almost too simple for a complicated form like this!
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site.

Thank you for requesting that I help you with your question.

Let me review your figures and I will revert to you shortly.

Many thanks
Customer: replied 2 years ago.

Thank you!

Expert:  taxadvisor.uk replied 2 years ago.
Thank you for your reply.

You say your company was dormant during first year.

- did you have any called up share capital in year one. If so, what was it - 1 share of £1 or 100 shares of £1.

- did you have any cash balance (cash in hand or cash at business bank account) at either year end?

Please advise.

Mnay thanks
Customer: replied 2 years ago.

Yes, 1 share of £1

My cash at bank at year end 2014 was £1550 which was my profit.

Cash at bank year end 2013 was £1.

Ive attached my dormant company accounts.

Attachment: 2015-03-31_094357_dormant_co_accts.pdf

Expert:  taxadvisor.uk replied 2 years ago.
Thank you for your prompt response.

Here are your accounts you can file...
PROFIT AND LOSS Box No. This year Box No. Last year
turnover AC12 19,000 AC13 0
cost of sales AC14 0 AC15 0
gross profit AC16 19,000 AC17 0
distribution costs AC18 0 AC19 0
administrative expenses AC20 17,450 AC21 0
other operating income AC22 0 AC23 0
operating profit or (loss) AC26 1,550 AC27 0
interest receivable AC28 0 AC29 0
interest payable AC30 0 AC31 0
profit or (loss) on ordinary activities before taxation AC32 1,550 AC33 0
tax on profit or loss on ordinary activities AC34 310 AC35 0
profit or (loss) for the financial year AC36 1,240 AC37 0
dividends for the period AC38 0 AC39 0
net balance for the financial period transferred to reserves AC40 1,240 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 1,551 AC55 1
TOTAL CURRENT ASSETS AC56 1,551 AC57 1
creditors due within one year AC58 310 AC59 0
NET CURRENT ASSETS AC60 1,241 AC61 1
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 1,241 AC63 1
creditors due after more than one year AC64 0 AC65 0
provision for liabilities AC66 0 AC67 0
TOTAL NET ASSETS AC68 1,241 AC69 1
CAPITAL AND RESERVES Box No. This year Box No. Last year
called up share capital AC70 1 AC71 1
revaluation reserve AC76 0 AC77 0
profit and loss account AC74 1,240 AC75 0
TOTAL SHAREHOLDERS FUNDS AC80 1,241 AC81 1
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 1,240 AC216 0
equity dividends paid AC186 0 AC217 0
retained profit AC187 1,240 AC218 0


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 2 years ago.

Thanks, ***** ***** helpful.

One more question. Is my called up share capital not paid 0? (AC460)

Expert:  taxadvisor.uk replied 2 years ago.
Thank you for your reply.

Your called up capital is paid thats why there is a figure in AC70 and AC71.
It is the same as issued share capital.

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 for it.

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes