CT600 Filing

[sharman_emma]

Dear All,

I'm filing my CT 600 for the first time myself, I am using the HMRC online for this facility. I work as consultant during the year I paid myself only salary, common working expenses and dividends.

The total figure of my company is £43212.00 and Total Expenses Including Salary paid to myself is £23123.00 i.e. £20089.00 in profit; which is used to pay self dividend and some is left in company as the earning.

During online process I answer the question in various steps which comes out to be following fields in the final steps.

If some on can tell me if this data is correct and I can continue with the process with number showing as in CT600:


1. £43212.00
3. £20089.00
5. £20089.00
6. £145.00
21. £20234.00
34. £20234.00
37. £20234.00
42. X
44. £20234.00
45. 20.00
46. £4046.80
63. £4046.80
66. £4046.80
70. £4046.80
78. £4046.80
83. £4046.80
86. £4046.80
92. £4046.80

I hope I am not taking a lot of your time, if some one can please tell me is this OK to go on with submission will be very helpful.

Cheers
Emma

[dp0848]

Hello Emma,

Should box 66 read 20?

Also, when is your year end?

[sharman_emma]

Hello,

66. is " . %"

The tax year is from 01-04-2007/31-03-2008

Thanx

[dp0848]

Emma,

What I meant was that box 66 should read 20.0%

David.

[sharman_emma]

Thanks for the reply, but this data is generated automatically by the online system, do you reckon everything else is correct?

[dp0848]

Are you sure that is right Emma. Box 66 asks you to express the tax payable as a percentage of the taxable profit. Therefore the answer cannot possibly be £4,046.80 :|

[dp0848]

You also need to put 2007 in to box 43 if the system has not already done so.

The rest of it looks fine Emma based on the numbers you have provided. Don't forget to complete boxes 105 to 114 if you are claiming any capital allowances e.g. if you have purchase a fixed asset such as a laptop.

Also before filing don't forget to attach a copy of your P&L in pdf format to the return and a copy of the workings showing how you arrived at your taxable profit if it is not obvious from the P&L

David.

[sharman_emma]

Are you sure that is right Emma. Box 66 asks you to express the tax payable as a percentage of the taxable profit. Therefore the answer cannot possibly be £4,046.80 :|

I'm sorry I meant to be 65 there not 66.

Thanx for correction

[GaryMc]

HMRC require a full set of accounts not just a P&L or they will treat it as an incomplete return.

You may get away with a P&L in a few years but if this is the first period, it is likely to be picked up for manual checking.

[sharman_emma]

Hi Gary,

Will P&L and Audit Trail will be good enough to provide with the return, as it ask for 2 types of documents Accounts & Computation, can you please point which will go where?

Many Thanx

[two sheds]

I think as said before that you need to attach a full set of accounts and also a tax computation or it will be rejected as an incomplete return....

[GaryMc]

Here is an extract from the CT600 guide

A company tax return is not just the company tax return form (form CT600) and any supplementary pages but also
-accounts*, for the period covered by the return and
-computations showing how entries on the return have been calculated from the figures in the accounts.

Any relevant claims, elections, reports, or statements must be included. Different information, accounts, statements and reports may be required from different descriptions of company as, for example, is the case with insurance** companies.

* 'Accounts' required are:
• for companies resident in the UK throughout the period covered by the return and required by the law of the territory in which they are established or by EC Regulation 1602/2002 to prepare accounts covering that period, those accounts including a copy of any directors' and auditor's report similarly required. These are the accounts that a company is required to prepare under company law for its members and not the abbreviated accounts it may be permitted to file with the Registrar of Companies.

[sharman_emma]

Sorry for the late reply, but can anyone clear what this above really mean, I only have P&L and Audit Trial.

Cheers,
Emma