How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5141
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

I have a client with turnover 132,904 cost 19,634 so profit

This answer was rated:

I have a client with turnover 132,904 cost 19,634 so profit of 113,269 i have problem with recording sherholders contributions. Balance sheet and profit and Loss on CT800 is not balancing. Directors paid themself 29534 in dividents. Contributed 100 when company started. On CT it showing on profit and loss page that net balance will be 113,269 (profit) less 29,534 (dividens paid) which gives 83,735. On my program balance sheet i got 83,835 as i have there also sherholders contribution of £100.
Question 1 - should i reduce divident paid by £100 invested on HMRC form
Question 2 - is £100 invested in company a capital only or should it be posted in liabilities as well (as a journal).
Question 3 - box AC460 - should i put 100 there if they pay themself some of dividents?
Customer: replied 2 years ago.
I will need this info today as i need to submit their accounts. If i will not get answer today please do not answer
Customer: replied 2 years ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Thank you for your question.Can you please send me a copy of your balance sheet and I will review your accounts for you.We will clear the error today.many thanks and other Tax Specialists are ready to help you
Customer: replied 2 years ago.
just one sec i will send my balance sheet and maybe you can help me this way. Scanning now
Anna, thank you for accepting my offer.I have left my contact details