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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4802
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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My name is***** last year you helped me file

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Hello my name is***** last year you helped me file my CT600 corporation tax return. If possible I would like the same person to help me now
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Hello and welcome to the site.

Thank you for requesting I help you with your question.

Please send me the documents and I will do my best again...

I prefer the abbreviated accounts as micro-entity accounts have some glitches.

Many thanks

Customer: replied 1 year ago.

Thank you here is the link to the information: the "accounts" I have prepared and the screen shots of where I have got to

https://www.dropbox.com/sh/44k9s8cqpbf596q/AADQ4b-wMxEg5YUFHnjoGW99a?dl=0

Expert:  taxadvisor.uk replied 1 year ago.

John, thank you for your reply.

I will review your accounts and revert to you.

I did warn you of the glitches when using micro-entity accounts version software. It does not recognise negative net current assets.

Secondly, you have entered values in Boxes AC460/AC461=100

This is called up capital paid and not called up capital not paid. Please remove 100 from both boxes.

It is part of capital and reserves in the bottom half of balance sheet

I would like you to input the numbers using normal abbreviated accounts version HMRC software and let me know what error messages you get.

Many thanks

Customer: replied 1 year ago.

Hi: do you mean file abreviated accounts with companies house and then, separately file the CT600 with HMRC?

Expert:  taxadvisor.uk replied 1 year ago.
John, thank you for your reply.

You have a choice... the deadline for filing accounts at Companies House is 30 Jun.

You could use HMRC software and service to do both at same time or just file accounts at Companies House first and then file CT600 return.

I tend to file accounts for my clients separately.

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.

I just want to do whatever is the simplest and quickest thing to do.

In your opinión that isnt file them both at once because of glitches in the software: correct?

I have downloaded another CT600 to see if I can avoid submitted micro accounts and instead submit abreviated accounts but I cant find the option. I cant remeber now at what point I opetd into micro as opposed to abreviated.

I have been into companies house and put the figures into their software and, without submitting them, I have put the screenshots in dropbox for you to perhaps check over.

Just let me know what you think is the simplest and we'll do that.

Thanks John

Expert:  taxadvisor.uk replied 1 year ago.

John, thank you for your reply.

I am reviewing your figures as you have input for Companies House filing.

I would stay away from micro-entity accounts version using HMRC software because of glitches.

John, you are making the same mistake again... please do not input any value in the box "called up share capital not paid".

Also creditors should be input as negative for Companies House filing.

Furthermore, total net assets must equal shareholders' funds.

I hope this is helpful and answers your question.

I am happy to offer you additional service to ensure your accounts are correct. Please let me know if you need this service.

Customer: replied 1 year ago.

I have taken the figures you prepared for me last year both for CT600 and Abreviated accounts for Companies House and added a column for this year.

The results are in a document called Draft accounts in dropbox. I have put my figures and notes in blue and made my reasoning clear and I have tried to be consistent. The figures at the end of the abreviated accounts dont square although it looks like a simple solution.

I may be getting in a muddle regarding the revaluation reserve. If you could take a look and tell me where I may have gone wrong I would be very grateful.

Expert:  taxadvisor.uk replied 1 year ago.
John, thank you for your reply and for additional information.

I will review your accounts and revert to you later in the day.

Many thanks
Expert:  taxadvisor.uk replied 1 year ago.

John, thank you for your patience.

I have reviewed your accounts and noted your comments.

You have reflected retained profit for the year as a reduction in creditors. This is only one factor in the movement of creditors. In your accounts the bank balance has increased year on year. Where has extra cash come from?

You need to make following entries/adjustments to make your accounts balance
Input AC58=6,003
Input AC76=0 as you don't have revaluation reserve.

Your final figures would read
AC68/AC80=-3,958
AC69/AC81=-5910

Here is my version for your information

PROFIT AND LOSSBox No.This yearBox No.Last year
profit or (loss) for the financial yearAC361,852AC37-553
dividends for the periodAC380AC390
net balance for the financial period transferred to reservesAC401,852AC41-553
BALANCE SHEETBox No.This yearBox No.Last year
intangible assetsAC420AC430
tangible assetsAC440AC450
TOTAL FIXED ASSETSAC480AC490
stocksAC500AC510
debtorsAC520AC530
cash at bank and in handAC542,045AC55174
TOTAL CURRENT ASSETSAC562,045AC57174
creditors due within one yearAC586,003AC595,984
NET CURRENT ASSETSAC60-3,958AC61-5,810
TOTAL ASSETS LESS CURRENT LIABILITIESAC62-3,958AC63-5,810
creditors due after more than one yearAC640AC650
provision for liabilitiesAC660AC670
TOTAL NET ASSETSAC68-3,958AC69-5,810
CAPITAL AND RESERVESBox No.This yearBox No.Last year
called up share capitalAC70100AC71100
revaluation reserveAC760AC770
profit and loss accountAC74-4,058AC75-5,910
TOTAL SHAREHOLDERS FUNDSAC80-3,958AC81-5,810
Differencexxxx0xxxx0
STATUTORY ACCOUNTS NOTESBox No.This yearBox No.Last year
profit and loss - opening balanceAC184-5,910AC215-5,357
profit for the periodAC1851,852AC216-553
equity dividends paidAC1860AC2170
retained profitAC187-4,058AC218-5,910

 

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.

Expert:  taxadvisor.uk replied 1 year ago.

Hello John

I notice you have viewed my latest response to your question about help with filing abbreviated accounts (JACUSTOMER-ehgu5dv2- Last Viewed on 6/17/2015 at 2:18 PM).

I am just checking to see if you have any issues relating to your question that I may not have addressed.


Please let me know if I can be of further assistance.

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.

Customer: replied 1 year ago.

Thank you I am just dealing with it all now. I want to get to the end of CT600 if that ok.

You have given me a fantastic service.

Expert:  taxadvisor.uk replied 1 year ago.
John, thank you for your reply and update.

Best wishes.
Customer: replied 1 year ago.

I have got to trading losses....I am not quite sure what to answer. As we made a trading profit the answer may be different to last years. I have put the screen shots in dropbox calle Trading Losses screen shots. Can you help please?

Expert:  taxadvisor.uk replied 1 year ago.

John, thank you for your reply.

I am happy to help you with your additional questions and I hope you would recognise this additional work. I have previously sent you an offer for additional service.

Please send me the Trading losses page for y/e 30 Sep 2013 - computations section of CT600.

I know your trading losses carried forward for 2012 (CP240)=5,263 yet your loss after interest payable was 5,357.

Many thanks

Customer: replied 1 year ago.

Thank you yes I am happy to recognise this additional work. Sahll we say 40€ to take me to the end of CT600 which would make it 100€ for the whole job?

I have added to the document in dropbox called Trading losses screen shots the pages of this section for last years CT600. I hope it contains what you need (I expect most of it is irrelevant).

Thank you once again.

Expert:  taxadvisor.uk replied 1 year ago.
John, thank you for your reply.

You should input on Trading Losses page information as follows:

Do you have any trading losses left that you have not used from previous accounting periods? .. tick YES box

Losses brought forward [CP281] = (5357+553) = 5,910
Losses brought forward used against trading proft [CP283] = 1,852
Net trading profit [CP284] = should read 0

Do you want to claim any trading losses carried back from a later period against profits in this period? .. tick NO box

Losses carried forward [CP288] = (5910-1852) = 4,058

I hope this is helpful.
Customer: replied 1 year ago.

Hi did you see my note about the payment? It was asking me for about 68€ and I had suggested an extra 40€ (suposing I had paid 60€). We should clarify this.

Thank you for your figures.

I have got to another part where they are asking for trading losses. I have put the screen shot of last years page in the same document in dropbox. What do I put in this year please?

J

Expert:  taxadvisor.uk replied 1 year ago.
John, thank you for your reply.

The offer I made was fair..

I will revert to your question later on.

Many thanks
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4802
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 1 year ago.
John, I thank you for accepting my answer.

I have looked at the page I think you are referring to..

if it is within (4) CT600 section and the page in question is Losses, deficits, excess amounts

Has the company had losses, deficits and/or excess amounts
Please tick the NO box... you had a small profit in the year.

I hope this is helpful and answers your question.
Customer: replied 1 year ago.

Hi there the CT600 has been recieved by hmrc. I have been waiting for a message to say it has been acepted. I thought I would do that before wrapiing up with you. Do they send you one of those?

Expert:  taxadvisor.uk replied 1 year ago.
Hello John

Thank you for your reply.

Normally, when you file it online, you should get a message to say your CT600 has been successfully submitted and a reference number.

Also, I get an acknowledgment by email.

I hope this is helpful.
Customer: replied 1 year ago.

Yes I have receieved one of those. I suppose I was also expected a note saying the submission has been acepted.

Anyway thank you so much for all you help. I apreciate it.

John

Expert:  taxadvisor.uk replied 1 year ago.
John, thank you fo ryour reply.

If I can be of help in future, bear me in mind.

Best wishes.
Customer: replied 1 year ago.

is there anything left for me to do such as a rating or anything

Expert:  taxadvisor.uk replied 1 year ago.
You have already rated the service and made a payment.

Thank you

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