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Sam
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Category: UK Tax
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I am trying to file corporate accounts micro entity, they

Customer Question

I am trying to file corporate accounts for a micro entity, they are very simple accounts as one man band making a loss.
I have entered the profit and loss and balance sheet as i thought correct but it only pulls through the income amount and not expenses, shows his gross income as taxable.
What am I doing wrong? Which box have I missed or completed incorrect?
Submitted: 10 months ago.
Category: UK Tax
Expert:  taxadvisor.uk replied 10 months ago.

Thank you for your question.

I will happily review your figures and help you with clearing the error.

Please send me images of your

- Profit and loss account

- Balance sheet

- Accounting Notes - profit and loss account

Many thanks

Customer: replied 10 months ago.
There are no accounting notes...As you can see for this period the company made a loss
Expert:  taxadvisor.uk replied 10 months ago.

Thank you for your reply and for the information

please confirm the loss is 953 and not 952

You have share capital of 1 an you have shown it as called up share capital not paid.

It would be simpler to call it called up share capital 1 (in the capital and reserves section) and add 31 to cash at bank and in hand to reflect payment of £1 for the share.

I don't use this type of filing as it is beta service. Instead use Companies House website for filing abbreviated accounts/micro-entity accounts or HMRC own software for CT600 return

Based on what you have provided, you have a difference of 1. Do the adjustment as suggested and let me know if it has worked.

Your capital and reserves should be

Share capital 1

P&L account -953

Your profit and loss figure in box Ac435 should be -953.. just adjust box Ac425 to read 20147.

I will then ask you to rate my service.

Many thanks

Customer: replied 10 months ago.
Sorry this is HMRC own software, through their online service, I filled with companies house on 31st December, showing -952.I only show 1 share because I thought I had to, is that not right?
Customer: replied 10 months ago.
Am i crazy thinking the current assets on the balance sheet should be a minus figure?
Customer: replied 10 months ago.
I made the current assets 0
accrued income 24064
creditors 25018
Customer: replied 10 months ago.
Gives me a figure at the bottom of -953
Customer: replied 10 months ago.
Then I get to this page..Trading account details
Expert:  taxadvisor.uk replied 10 months ago.

Thank you for your reply

Attached is what you filed at Companies House..

it shows called up share capital not paid as NIL and capital and reserves as -952

This would imply

Your capital and reserves should be

Called up share capital 1

P&L account -953

If you use these figures then your accounts would balance

Also attached is revised balance sheet for your perusal

Please adjust p&l for this

Your profit and loss figure in box Ac435 should be -953.. just adjust box Ac425 to read 20147.

I hope this helps.. please advise and the I will request you to rate my service

Expert:  taxadvisor.uk replied 10 months ago.

Personally, I would not use the service you have opted for (its being tried as beta)

Stick to using CT600return by downloading PDF file

Customer: replied 10 months ago.
where do I download CT600 as when I log in it takes me to this service
Customer: replied 10 months ago.
These accounts are for period 07/2014 - 03/15 am I right in thing CT600 not appropriate for these accounts?
Customer: replied 10 months ago.
Sorry found earlier version CT600..
Customer: replied 10 months ago.
As you are not really up to date on this software and I have got no futher than when I started with filing taxes. I don't feel this has answered my question as it is still not pulling figures through correctly
Expert:  taxadvisor.uk replied 10 months ago.

I am a professional accountant who helps customers here and also file my clients' CT600 returns. I know these returns.

I can help you ..consider a phone call request.

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