Corporation Tax Return CT600

[Samantha Carlaw]

Hi all - I am just trying to submit my CT600. I usually do this through the HMRC online portal with no issues. However, this time as I have received more than £1,000 in non trading income (this is from the CRJS furlough income) it is saying that I have to submit using a software supplier, and furthermore my accounts need to be iXBRL format. I don't have my accounts in this format as I use spreadsheets to record my P&L and Balance Sheet (I do my own accounts). Does anyone have any advice please as suppliers to use / how to convert to iXBRL please ? much appreciated.

 

[Argentum Tax]

I have received more than £1,000 in non trading income (this is from the CRJS furlough income)

Why would this be non-trading income? My view is that normally this would be trading income as it arises as a result of your trade. Unless there is something I am overlooking?

 

[Spur Support Services]

Hi Samantha

Use https://www.gov.uk/file-your-company-accounts-and-tax-return to create both your iXBRL accounts and your tax return at both Companies House and HMRC (or just HMRC if Companies House already have them).

As Argentum says, the furlough receipts aren't "non-trading" income, but they should be disclosed separately under "other operating income" for accounting purposes. They should not increase turnover, or offset the relevant costs in an FRS102 profit and loss.
However, Profit and Loss account disclosures is a fairly mute point if you are a micro business and only submitting the balance sheet to Companies House.

I would most certainly include the income within Trading Profits on the CT600. However, DO NOT include the CRJS payments within the Turnover figure on the CT600, and whilst inputting the income and expenditure figures into the online filing facility, look for a suitable "other operating income" category.

I hope this helps

 

[Samantha Carlaw]

Thanks both for your replies. The problem that I have is in the CT600 I am putting the CJRS into 'Other Operating Income' but then when you come to the detailed breakdown it asks for 'Ancilliary Income' (the only place to put non-turnover income) and this cannot exceed £1,000. I'm a bit stuck.

 

[Diva33]

Hi, I have EXACTLY the same problem as Samantha Carlaw - there is nowhere to put 'other income' when using the online gov.uk system to file the CT600. Samantha - did you ever find out the answer? Do we just include under normal turnover? Or do we have to use a different software to file it?

 

[Diva33]

Thanks both for your replies. The problem that I have is in the CT600 I am putting the CJRS into 'Other Operating Income' but then when you come to the detailed breakdown it asks for 'Ancilliary Income' (the only place to put non-turnover income) and this cannot exceed £1,000. I'm a bit stuck.

Hi, I have EXACTLY the same problem as Samantha Carlaw - there is nowhere to put 'other income' when using the online gov.uk system to file the CT600. Samantha - did you ever find out the answer? Do we just include under normal turnover? Or do we have to use a different software to file it?

 

[Samantha Carlaw]

Hi Diva33. I have found out that HMRC are amending the CT600 form in April 21 to include a section where furlough income can be put in. I am going to wait until then and try it again I think and hopefully it will solve the problem, fingers crossed.

 

[Diva33]

Hi Diva33. I have found out that HMRC are amending the CT600 form in April 21 to include a section where furlough income can be put in. I am going to wait until then and try it again I think and hopefully it will solve the problem, fingers crossed.

Thanks so much! Ah that makes sense, otherwise we will need to invest in new software just to file the return having furloughed staff, which seems like madness, but wouldn't have put it past them!