CT600 Corporation Tax Return - Trading Profits amount to be adjusted?

[LaughingProphet]

Hi,

I am completing a CT600 SHort FOrm Corporation Tax Return and was wondering whether the Trading and Professional profits in box 3 should include the Total Profit Before Tax on the P&L or should be adjusted to represent the "total taxable profit"?

This would be a higher amount than the value in the P&L Profit Before Tax Line as it would include the non-tax-deductible expenses but surely this is the key figure as it is what tax due is based on.

Any help is much appreciated...!

Thanks All.

[Jaykay]

It is the adjusted profit you need.
Take the pre tax profit, add back disallowed expenses and depreciation, then deduct Capital Allowances.
Have fun!

[elainec100@cheapaccounting]

Your CT comp to accompany the CT600 will show the calc to support the figures

[LaughingProphet]

Thanks for the quick reply Jaykay - really helps!

[LaughingProphet]

Your CT comp to accompany the CT600 will show the calc to support the figures

Thanks Elaine (again!) WHat is the CT Comp though?

[elainec100@cheapaccounting]

The CT comp - is the corporation tax computation - shows how you have calculated the figures on the CT600 e.g. capital allowances schedule, disallowable expenses, allowed items, profits split by financial years is year end is other than 31/03 etc etc.