Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
Firstly you must prepare a full set of accounts under the Companies Acts, ie a Profit and Loss Account (P&L) and a Balance Sheet (BS). Ensure that the BS actually balances and that where data is common to both the BDS and the P&L the figures actually are identical. You will find that in all probability the accounts will have a lot of zeros in their make up.
Now enter the Webfiling and very carefully enter the data you have prepared inserting zeros where appropriate. The system will prompt you as to any discrepancies and or errors as you work through the micro entity inputs. Do not forget to select for the abbreviated accounts to be extracted for the Companies House (CH) return automatically as this will be another chore you will not have to complete. You will probably find that most of the 'Notes' available will not need to be used.
That is how I always proceed with that exercise. I note with some grim amusement that in the old days of paper returns one was pushed if it took more than five minutes to complete. Now it is likely to take three quarters of an hour!
I do hope that I have been able to show you a way forward in this matter. Please follow up on this thread if you are still having difficulties.
The micro accounts will file automatically with Companies House providing you elect for that option. The election is made almost immediately on entering the package.
As I said, before you can complete this exercise you must prepare BS and P&L under the Companies Acts. In this case I suspect that most of the fields will be zeros. Once you have a Companies Act format the data wilkl correspend with the on line return format.
If you can let me have an email address I can send you an example.
Sent you a test email.
Example sent to you.
Post to clear my question list.
Additional for a telephone call, that's how Just Answer works.
There is another problem with your scenario. As you are both taking different sums of money as dividends HMRC may will regard these payments as wages, invoking ir35. Wages should have been paid under PAYE arrangements. All in all the company has got itself into a frightful mess. Remember dividends do not count against Corporation Tax (CT) in the computation, whilst wages do.
I am so sorry to have to rain on your parade.
What was the transaction?
So Debit Fees paid 334-80 Credit Bank/Cash 334-80.
This will create a P&L A/c with a Balance Brought Forward less 334-80 and a reduced Balance Carried Forward. The Revised BS will show 334-80 less in the P&L. You can then go into the program and file the new P&L, Balance Sheet and there will be no Corporation Tax payable.