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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 4906
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I'm filling out my CT600 short version. And can't get AC187

Customer Question

I'm filling out my CT600 short version. And can't get AC187 to balance. It works in the spreadsheet but I must have something out by 1 somewhere!
Submitted: 2 years ago.
Category: UK Tax
Customer: replied 2 years ago.
I need to figure out if the figures balance. What to change if they don't balance. And what to do with the pdf if they do balance!
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.
I will review your accounts and revert to you in the morning .
I hope this is acceptable.
Many thanks.
Customer: replied 2 years ago.
I really need a response this evening - is that possible?
Expert:  taxadvisor.uk replied 2 years ago.
Thank you for your reply.
I have reviewed your CT600 file.
There appears to be rounding difference.
The numbers have been rounded up/down from 2 decimal places to whole numbers.
Your easy solution is one of the following
EITHER
Increase admin cost by 1 to read 14292 and this will reduce the figure in AC26, AC32, AC36 and AC40 by 1.
AC36 and AC185 would read 44,821 and
AC74 and AC187 would read 64,726
OR
The alternative is to reduce creditors by 1 and AC58 should read 16,142
This will increase the total net assets AC68 to 64,728
You change AC74 to read 64,727 and this agrees with AC187.
I would opt for changing creditors in AC58 to read 16,142.
One other thought.. if you are filing CT600 return using HMRC software than I know from experience that when you come to computations pages there is no box for distribution costs.
I have for my clients just added distribution costs to cost of sales even in the accounts section to overcome this drawback and not bothered with providing details of cost of sales and just shown one figure.
Also, if you use both the accounts service and computations service, there is no need to attach pdf file.
I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Expert:  taxadvisor.uk replied 2 years ago.
I have spotted an error and I will revert to you shortly.
Many thanks
Expert:  taxadvisor.uk replied 2 years ago.
I am back again.
I have keyed your figures in my template and here is a version that agrees with no error message.
You have two figures by the side of AC58
16,140 and 14,136 but you keyed in 16,143.
Your error per figures submitted is 1,999 (if the figures from Statutory Account Notes Boxes AC184 to AC187 are correct).
I have just spotted that your AC74 and AC187 are not agreeing and the difference is 1,999.
I have changed your creditors AC58 to read 18,142.
I would like you to revisit your creditors when you get a moment.
BALANCE SHEET Box No. This year Box No. Last year
intangible assets AC42 0 AC43 0
tangible assets AC44 0 AC45 0
TOTAL FIXED ASSETS AC48 0 AC49 0
stocks AC50 0 AC51 0
debtors AC52 0 AC53 0
cash at bank and in hand AC54 80,870 AC55 96,769
TOTAL CURRENT ASSETS AC56 80,870 AC57 96,769
creditors due within one year AC58 18,142 AC59 18,166
NET CURRENT ASSETS AC60 62,728 AC61 78,603
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 62,728 AC63 78,603
creditors due after more than one year AC64 0 AC65 0
provision for liabilities AC66 0 AC67 0
TOTAL NET ASSETS AC68 62,728 AC69 78,603
CAPITAL AND RESERVES Box No. This year Box No. Last year
called up share capital AC70 1 AC71 1
revaluation reserve AC76 0 AC77 0
profit and loss account AC74 62,727 AC75 78,602
TOTAL SHAREHOLDERS FUNDS AC80 62,728 AC81 78,603
Difference xxxx 0 xxxx 0
STATUTORY ACCOUNTS NOTES Box No. This year Box No. Last year
profit and loss - opening balance ac184 78,602 ac215 91,252
profit for the period ac185 44,822 ac216 45,350
equity dividends paid ac186 60,697 ac217 58,000
retained profit ac187 62,727 ac218 78,602
Actual mis-posting could be 2,000 and there is rounding error of 1 making net difference 1,999
many thanks

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