Help needed submitting my tax return via HMRC online

[LeeT]

When I start the process at the 'company accounts' step it says: Period of accounts: 13 June 2022 to 30 June 2023.

After that at the 'Start computations' it changes to 'Accounting period: 13 June 2023 to 30 June 2023' and it seems like the all the screens and calculations from here on out are focused on this 18 day period and if I submit my return it will only be for this period.

I'm not sure why this is and what I need to do next, do I need to submit another return after this for 13 June 2022 to 12 June 2023?

Any help really appreciated, thanks for reading!

 

[DWS]

I take it this is your Companies first years accounts?
In which case yes you need to submit 2 CT600 tax returns, 1 for a 12 month period and another for the shorter period.

 

[LeeT]

Yes, that's right, so after I submit this, will there be an option to submit another return for the 12 month period? As it not there at the moment, just 13 Jun 2023 - 30 Jun 2023 when I log into the HMRC dashboard under track submissions.

It has submitted to Companies House as I opted to submit the info there within the HMRC portal before it changed to the shorter period. It now says- "Company accounts 13 Jun 2022 - 30 Jun 2023 8 Mar 2024 Submission complete" for Companies House. Not sure if that is relevant or not.

 

[DWS]

Companies House should be fine as you can file for the longer period, I use commercial software so unsure of how the HMRC portal works but would have thought that it will let you submit both returns as this is more common than not in a Companies first year.

 

[LeeT]

I'm at the final stage and about to submit it but it's very confusing because my draft accounts show my full balance sheet and Profit and Loss for 13th June 2022 to 30th June 2023 but then as I scroll down to the CT600, it just shows 13th June-30th June 2023 on the CT600.

I'm worried that if I submit this, my CT600 will be missing for the 12 month period before 13th June 2023 with no option to add it afterwards and my submission will be incomplete.

I won't submit it yet, I still have time so please chime if you can shed any light on this for me

 

[DWS]

As I said I don’t use HMRC software so can’t say what they do but your accounts should be split between the two tax returns on a pro rata basis, with my software I just create two tax returns for the relevant dates and it fills in the figures for these periods.

 

[Newchodge]

Submit the first period 13 June 2022 to 30 June 2022. Then 1 July 2022 to 30 June 2023.

 

[LeeT]

It's just that I can't see an option to submit another one after this. I will submit this tomorrow and see what happens, hopefully there is an option to submit another return once this is done. Thanks for the replies.

 

[LeeT]

I have taken some screenshots to explain what I need clarifying, it won't let me use the insert image button, so I posted the links below if anyone has chance to have a look please:

https://postimg.cc/svf3Jh9T - Accounts summary

https://postimg.cc/tZfFzj85 - Computations

https://postimg.cc/JtDNzsBd - Apportioning income

https://postimg.cc/56888DgB - HMRC dashboard

 

[Scalloway]

It's just that I can't see an option to submit another one after this. I will submit this tomorrow and see what happens, hopefully there is an option to submit another return once this is done. Thanks for the replies.

Once you have submitted the first return the next one will automatically be available.

 

[LeeT]

Thanks very much for confirming that, that makes sense.

 

[LeeT]

I have another question if anyone can help please.

As I've said, when I first start my accounts, it does a accounts summary for the period of accounts: 13 June 2022 to 30 June 2023.

Here it let enter my profit and loss figures for this whole period including all other charges such as sales commissions, postage and web hosting etc.

Then as I explained in the posts before, it switches to 13 June 2023 to 30 June 2023 after this so I did another profit and loss report but it there is no where add the above items items in the "Expenses" section that I can see. I see where I can "Salaries and Wages" under "Directors, employees and subcontractor costs" but no where to add the other costs like before in the accounts summary.

This means my profit is showing higher than it should be as I can't add in all my costs. Am I missing something?

 

[Scalloway]

Have you seen this guide?

The Company Tax Return guide

How to complete your CT600 Company Tax Return form and what information you need to include.

www.gov.uk

 

[DWS]

When I submit clients first year Company accounts using my software I have both tax returns open, you should have to tick a box saying ‘making more than one return now’
You attach the accounts to one tax return and the software should automatically apportion these to the two returns based on pro rata for the relevant periods.
Again, I do not use HMRC software so am just assuming it will be similar to commercial software.

 

[LeeT]

I will open a new thread and try to elaborate on my exact issue on there with screenshots and then I will call HMRC tomorrow and ask them too. I feel as though I'm just missing something simple but haven't explained it well.

 

[LeeT]

Rather than open a new thread I will post it here as the title is still relevant:

I added screenshots with notes to better explain my issue so hopefully someone can clarify the error I'm making

https://ibb.co/r2XVxbW - Accounts - Profit and Loss - All good

https://ibb.co/dG8c1Qt - Apportion your income - Question

https://ibb.co/JvZPhLY - Trading account details - Question

https://ibb.co/vmsCLP4 - Expenses - Confusion starts here

https://ibb.co/x3DsLvm - Expenses - More confusion

https://ibb.co/jbxzNRJ - Trading losses - More confusion

https://ibb.co/xjMVV46 - Detailed profit and loss - The issue I'm having is that I can't seem to see where I need to add all my losses like at the start in the accounts screen (AC12-AC435). It's all different now CP15, CP19 etc but no other charges (AC425) so I will end up paying tax on postage costs and sales commissions as far as I can tell which doesn't seem right to me unless things have changed?

 

[DWS]

Maybe it’s time to engage an Accountant.

 

[LeeT]

I have 2 days left to submit it so it's a but late for that now but I will call HMRC tomorrow and explain the situation to them. I have already emailed them but I don't think there will be time for them to get back to me.

It must be something simple as it's just a matter of me not understanding where to put my losses.

Worst case, if I can't get through to HMRC then I was going to add my losses all under "cost of sales" and then attach a PDF with my profit and losses and explaining why and how I have done this. That is assuming, I can go back and amend my it at a later date once I've spoken to HMRC and understand where to put my losses in the CT600, the same I was able at the start of the process until it split into 2 and asked for the same information I just gave but without the fields to enter the values, or at least that how it seems to me so I must be missing something simple.

 

[DWS]

You have 12 months from the end of the accounting period to submit a CT600, so I would advise to seek some professional help from an Accountant.

 

[LeeT]

Yes, you are right, I will. I thought I would be able to do it. I did have my own ltd company and did my own returns using the HMRC online software with no issues in the past but this was over 15 years ago now and things have changed a bit. I would still like to know where I am going wrong as I am curious to the answer but I will definitely being consulting an accountant if I do have until June.

Thanks for reminding me about the dates, I forgot about that. It does say this on the two letters I received from HMRC regarding "Notice to deliver (file) a Company Tax Return" for the 2 periods.

I received another letter from HMRC for a "Corporation Tax Payment Reminder" It's says "Your company needs to pay any amount above by the due above" which is 13th March 2024 but there is no amount. It says "If you have not already filed your Company Tax Return" then goes on to explain to how to file it.

This made me think I needed to do my tax return now as it had been ages since I got the first two letters, am I mistaken?

 

[DWS]

You have 9 months to submit your accounts to Companies House and pay any C/Tax owed but 12 months to submit the CT600

 

[LeeT]

Thanks for clarifying that. In that case, I would pay the C/Tax based on my own calculations for now and then seek an accountant to submit my CT600s for me asap. Would that be ok?