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I am having a problem entering my "previous losses" on the

Customer Question

I am having a problem entering my "previous losses" on the CT600 - where do they go (please)?

On CT600 (for small limited company) I am confused as where to enter the previous years losses (reserves). Is it in the "Revaluation Reserve in box AC77 & AC76 ?? and if so how can the AC218 (retined profit) equal AC75 which is P&L (without reserve)?
Submitted: 1 year ago.
Category: UK Tax
Expert:  taxadvisor.uk replied 1 year ago.

Hello, if you have any questions or need further clarification after reading my answer please let me know.

 

Thank you for your question...

 

Please complete these boxes for me and I will help you..

 

Description of account - TO BE INPUT
PROFIT AND LOSSBox No.This yearBox No.Last year
profit or (loss) on ordinary activities before taxationAC320AC330
tax on profit or loss on ordinary activitiesAC340AC350
profit or (loss) for the financial yearAC360AC370
dividends for the periodAC380AC390
net balance for the financial period transferred to reservesAC400AC410
BALANCE SHEETBox No.This yearBox No.Last year
TOTAL NET ASSETSAC680AC690
CAPITAL AND RESERVESBox No.This yearBox No.Last year
called up share capitalAC700AC710
revaluation reserveAC760AC770
profit and loss accountAC740AC750
TOTAL SHAREHOLDERS FUNDSAC800AC810

 

STATUTORY ACCOUNTS NOTESBox No.This yearBox No.Last year
profit and loss - opening balanceac1840ac2150
profit for the periodac1850ac2160
equity dividends paidac1860ac2170
retained profitac1870ac218

0

 

Some notes for your guidance .

 

Box AC187 should equal Box AC74

Box AC218 should equal Box AC75

Box AC36 should equal box AC185

Box AC37 should equal Box AC216

 

Many thanks

 

 

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