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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15915
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I need some help with my tax return please

Resolved Question:

I need some help with my tax return please
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. Did you buy the computer and laptop after you started the business? What do you mean by repayment after purchase?
Customer: replied 1 year ago.
Hi TonySorry for the confusion. It's just one machine, a Macbook pro, which I bought under a 2 year purchase plan through Apple at £79 a month. The software is £43 a month and the transport I'm referring to is public trains and bus passes to the offices.
Expert:  TonyTax replied 1 year ago.
If the Macbook was bought specifically for your business (as opposed being introduced into the business second hand), then you can claim for it under the Annual Investment Allowance rules and write off the cost against one year. See box 49 here. You need to reduce the allowance for any private use. The interest on the Apple finance should go into box 25 here, again with a deduction for any private use of the computer. The software costs should go into box 17 here. Transport costs should go into box 20 here. I hope this helps but let me know if you have any further questions.
Expert:  TonyTax replied 1 year ago.
Yes, if no fuel card was available or used in the 2012/13 tax year or you repaid the cost of any privately used fuel.
Expert:  TonyTax replied 1 year ago.
Ignore the last post.
Customer: replied 1 year ago.
Hello Tony. Thank you for the answers. The macbook was bought new for use in my work, but it was also used for personal use. This hardly seems worth the trouble in that case.My apologies for not mentioning that I'm registered as a Limited Company, as this was required by most creative recruitment agencies. Therefore the form you sent over looks different than the one I am used to (CT600). Would you know the location of the blocks for said form? And also if I need to submit any of these under the orbit and loss section before I get to the computations section later on.
Expert:  TonyTax replied 1 year ago.
Expenses aren't shown in a CT600 corporation tax return. They are shown in your accounts which have to be submitted to HMRC with your CT600. You need to compete the CT600 using the HMRC software or a commercial software. It has to be submitted with your accounts which have to be in IXRBL format. The HMRC software will do the IXBRL conversion for you. You can register for online services under the heading "Filing your return" here.
Customer: replied 1 year ago.
Hello TonyHMRC have replaced the old software with an online filing system, which I'm using as it's far more user friendly. So all computations are submitted this way as well.I'm even more confused now than when I started out. So all I need to know is do I include any of the above expenses as part of 'cost of sales' (BOX AC14) in the 'profit and loss' section under the 'accounts' section of the return? Or do I only need to go into the detail of the expenses in the 'computations' section later on once abbreviated accounts have been submitted?
Expert:  TonyTax replied 1 year ago.
Only the monthly computer software fees should go into cost of sales. As you will see from the CT600 form, the expenses aren't shown. The CT600 basically shows turnover, profit and capital allowances. You need to find boxes in the online accounts filing system for the other expenses but the headings should be similar to what you saw in the self-employment pages. After all, an expense is an expense regardless of whether you are self-employed or using a limited company. Abbreviated accounts you send to Companies House are simply the balance sheet and the notes.
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