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Sam
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Category: UK Tax
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I need to submit my company accounts tax return. This is a

Customer Question

Hi. I need to submit my company accounts tax return. This is a very small business, with just me as the director/secretary and sole employee filing for the period 1 December 2014 to 30 November 2015. No corporation tax was paid in the previous year because no profit was made.
This is a web design business, so I've included things like hosting and domains costs under "cost of raw materials and consumables", but please correct if necessary.The following is what I have for Profit and Loss:2014:AC13 - 578
AC411 - 253
AC416 - 3002015:AC12: 7613
AC410: 2000
AC415: 5640On the following screen (Balance Sheet) I have no figures to input, but it won't let me proceed.
There's no one I owe money to, or anyone that owes me, no assets... so I must be missing something.Can you please help advise?
Submitted: 7 months ago.
Category: UK Tax
Expert:  taxadvisor.uk replied 7 months ago.

Hello and welcome to JustAnswer. I am here to help you. I will review your question and will respond to you shortly.

Expert:  taxadvisor.uk replied 7 months ago.

Thank you for your question.

Please advise company name and I will check what has been filed for last year.

I wish to know what you have reported as called up share capital etc in previous filing.

Many thanks

Customer: replied 7 months ago.
Company name: Streblo Ltdthanks
Expert:  taxadvisor.uk replied 7 months ago.

Thanks for the information.

The last set of accounts filed showed net assets of £9..

I need to know the breakdown between called up share capital and retained earnings at 30 Nov 2014.

Many thanks

Customer: replied 7 months ago.
Hi. I've attached a document which I think has the information you need.Thanks
Expert:  taxadvisor.uk replied 7 months ago.

John, thank you for additional information..

I am struggling to understand how you arrived at your figure of £8 for profit and loss account in the balance sheet when in the year you have shown a loss of £2,168.

Something is not correct.

You may wish to consider my offer of additional service to

- help you understand what goes where and

- finalise the accounts that need filing by 31 Aug 2016.

The figures you have given to me for 2014 are

Turnover AC13 578

Cost of raw materials AC411 253

Staff costs AC416 300

these figures are not the same as shown on micro-entity accounts you have just forwarded.

Many thanks

Customer: replied 7 months ago.
Ah, sorry for the confusion. Since my accounting period runs from 1 December 2014 to 30 November 2015, the figures I've provided for 2014 are just based on Dec 1st 2014 until Dec 31st 2014, as I thought I should only be including this accounting period.
Expert:  taxadvisor.uk replied 7 months ago.

You need to account for results for the twelve months ended 30 Nov 2015.

You say you have no assets... what happens to the cash at the end of the accounting year?

I have incomplete information to help you finalise your accounts.

Please let me know how you wish to progress this.

Many thanks

Customer: replied 7 months ago.
Hi. Thank you for your patience with me. As you may have guessed, my bookkeeping is a total shambles. Any assets from the previous accounting period carry over. I forgot that cash falls within this. I was thinking of physical assets, of which I have none.So my understanding is that the figures I provided for 2014 (which are just for Dec 2014) need to be added to the total 2014 figures from my previews filing for this to be done correctly.Does this make sense now?
Expert:  taxadvisor.uk replied 7 months ago.

John, thank you for your reply.

I wish to help you. I just can't add figures like this. I am a qualified accountant who prepares accounts for clients for a living.

I am sending you my offer of additional service to enable you to file proper set of figures at Companies House and with HMRC.

If it is not acceptable please let me know and I will opt out.

Many thanks

Customer: replied 7 months ago.
Sorry to waste your time
Expert:  taxadvisor.uk replied 7 months ago.

You have not wasted my time.

I am trying to be helpful in a constructive way.

I am aware your reporting deadline is 31 Aug.

Many thanks

Customer: replied 7 months ago.
I appreciate your input. I will have to opt out. thank you.