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Muhammad Haider
Muhammad Haider,
Category: Tax
Satisfied Customers: 817
Experience:  Director at HM Accountax
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For my CT600 tax return, I need to provide a balance sheet

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For my CT600 tax return, I need to provide a balance sheet for my investment property. I can value this at cost in Fixed assets and the mortgage outstanding in Liability but how do I balance the difference?


I am an advisor at JA and happy to assist you.

The balance is either earnings or directors current account.



Customer: replied 1 month ago.
Hi Muhammad, thanks for your prompt response. So if say my property costs £100k and the mortgage outstanding is £50k. £100k goes to fixed assets and £50k in long term liability. Do I put the remaining £50k in Share holders capital? Also, if I paid £10k in stamp duty, does this go into the P&L?

Stamp duty will add to cost of asset, you put the balance is directors account

Customer: replied 1 month ago.
Sorry, final question - is that in Equities, else the BS won't balance? Thanks

No, it should be in liabilities.

Muhammad Haider and other Tax Specialists are ready to help you
Customer: replied 1 month ago.
Thank you!