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what figure do I enter in box ax189 on ct600

Customer Question
what figure do I enter in box ax189 on ct600
Submitted: 4 years ago.Category: UK Tax
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Answered in 56 minutes by:
4/9/2013
UK Tax Professional: TaxVince, Accountant replied 4 years ago
TaxVince
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 965
Experience: Chartered Accountant >20 years + Qualified IFA
Verified

MamaTax :

Hi Its MamaTax Here!

MamaTax :

Thanks for the question, could you please send me your Balance sheet (preferably in Excel). If you have already filled in the CT600 you can attach a pdf copy without your personal details using the “upload” function here.

Thanks

Customer :

Hi Will attach balance sheet

Balance Sheet

As at 30 AUGUST 2012

Notes 2012

Fixed assets

Equipment 2 21,727

Intangible asset 870,000

891,727

Current Assets

Stock 1,247

Debtors 136,332

Bank/Building society balances 23,798

161,377

Current liabilities

Trade creditors/accruals 56,145

Corporation Tax 40,959

Other Creditors 125

97,229

Net current assets 64,148

Total assets less current liabilities 955,875

=======

Capital Account

Capital Introduced 900,000

Profit for the period 133,834

Dividends paid (77,959)

955,875

=======

I approve these accounts and confirm that I have made available all relevant records and information for their preparation.

.

(a) For the year ended 31 August 2012 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

(b) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

(c) The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

(d) These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime

MamaTax :

Thanks for the response. I wanted to see what you have done so far on the CT 600 and what your problem was. Your balance sheet appears balanced and I guess your first pages of the cT600 tie up.

The amortization amount does not need to be specifically stated in the CT600 all you need to do is tick box 97. There are other considerations you may need to take note of like if the asset falls under the post-2002 intangible asset rules, then you can claim a tax deduction for the amortization in the computation. Therefore tick box 97 to tell HMRC that you wish to claim a deduction for intangible assets. Otherwise no tax adjustment is normally required to achieve this, since the amortization would already be taken into account in the profits figure.

Hope this helps.

Regards

MamaTax :

I guess you are offline now. Will wait to hear from you should you require further help. Thanks

MamaTax :

Im just following up on the question to see if this helped and if you need any further help. IF you are now sorted could please rate the question before you go so that I can get paid for the time spent. Thanks.

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Customer reply replied 4 years ago


Hi there is no box 97 on ct600 and where is the up load button I can not see it please help asap these accounts need to be filed as they are late many thanks

Customer reply replied 4 years ago


the figure i entered was 822039 but it will not accept this

Customer reply replied 4 years ago

I have also entered the total of fixed assets which is 891727 and it will not take this figure either

Customer reply replied 4 years ago


Hi also i have been charged £ 33.00 and £ 43.00 on my credit card could you please explain this for me thanks

UK Tax Professional: TaxVince, Accountant replied 4 years ago
Hi. Thanks for getting back. Im not in the office now but will get back asap.
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Customer reply replied 4 years ago


Hi Need this sorting out before I can rate you sorry but I havent got anywhere with it and been charged £ 76.00 so far so the rating would not be good

UK Tax Professional: TaxVince, Accountant replied 4 years ago
Apologies. I know I sent a follow up message to you last week before I left for holiday as I had heard from you from sometime. But I greatly appreciate the effort for coming back yesterday - unfortunately I didn't have access to internet most of the day.



Just to get back to your question - please see table below and let me know if you have any comments. With regards to payment - I have asked Customer service to reverse the other payment.



Once again im deeply sorry for not answering your comments yesterday.





Description

Box

This year

of account

No.

Amount

BALANCE SHEET

INTANGIBLE ASSETS

AC42

870,000

TANGIBLE ASSETS

AC44

21,727

TOTAL FIXED ASSETS

AC48

891,727

STOCKS

AC50

1,247

DEBTORS

AC52

136,322

CASH AT BANK AND IN HAND

AC54

23,798

TOTAL CURRENT ASSETS

AC56

161,367

CREDITORS DUE WITHIN ONE YEAR

AC58

40,959

NET CURRENT ASSETS

AC60

120,408

TOTAL ASSETS LESS CURRENT LIABILITIES

AC62

-

CREDITORS DUE AFTER MORE THAN ONE YEAR

AC64

56,270

PROVISION FOR LIABILITIES

AC66

-

TOTAL NET ASSETS

AC68

955,865

CAPITAL AND RESERVES

CALLED UP SHARE CAPITAL

AC70

900,000

REVALUATION RESERVE

AC76

PROFIT AND LOSS ACCCOUNT

AC74

55,875

TOTAL SHAREHOLDERS FUNDS

AC80

955,875



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