Hi,Friends

I have very very small comapny [online business] running part time other than my main job. I need some help to fill my first CT600 tax retrun form. I have small loss on my first accounting period. I don't know how to fill this form.

Let me show my P&L [aprox near by figure]

Sales -- ?4300
purchase------- ?300
Direct exp ------?3900
Gross profit-----?100
Overhead------ ? 300
Net Loss------- ? 200

I have very small and simple P&L. I don't know which boxes to put this figures.

I have no fixed assets, machiery, plant ....


1] Can you please help me in putting this figures in the CT600 form?

2] after incorporation immediately i put company in to dormant and start after 3 months, incorporate in april 07 dormant upto june 07 first AP july 07 to june 08. so how many CT600 form have to fill?

Kssoni
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Not only will you need a CT600 but you will need statutory accounts to go with them and a detailed P&L account. Companies House will allow you to file abbreviated accounts.

Unfortunately us accountants (hey guys back me up on this) see the same issue time and time again ?a company has been set up, little profit (and maybe a loss) so no funds to file the accounts.

A message from my Sunday evening soapbox:

A company is very cheap to set up but please do budget for being able to fulfill your statutory duties of preparing statutory accounts and your CT600 return.

If you do not know how to do it you either need to:



Learn ?and I have many times posted the link to the free HMRC course which can help but will take your time
Appoint an accountant to do it for you. I say this not to tout for work but at the end of the day I choose to get a mechanic to service my car. I could go to night school to learn how to do it myself but I choose not to ?so I must pay for this service.

Operating a limited company is far more complex on reporting to HMRC and Companies House than being self employed. :(
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I've been involved in management accounts software systems for 25 years. I can prepare and read P&L accounts and balance sheet as well as most professionals.

I wouldn't dream of trying to complete a CT600 or file a set of statutory accounts myself. You just don't know the rules, and the rules are *very* arcane. Get a professional to do it for you. You'll save money in the long run by doing so. And you'll sleep at night.
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Elaine you have my full support. I thought the exact same thing when I read the OP but was hoping someone would come along and put it into better words than I could think of!

Kssoni, I'm sorry it's not as simple as telling you how to complete the form.
I wish there were big warnings on Co House and company formation websites that warn people that it's so easy to set up a Ltd Co, but not so easy to run one.

Good luck, and I respectfully suggest you follow Elaine's advice and go to a HMRC course or pay an accountant. Sorry :)
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The DIY Accounting package for small companies will produce a set of year end accounts for you including the balance sheet, statutory statements and automatically fills in a copy of the CT600 tax return.

You could submit your first year accounts as a dormant company but although you may not have traded you will have incurred pre-incorporation expenses such as registering the company etc.,
There is a format on the companies house website to submit dormant accounts.

Alternatively you may need to complete a CT600 for each year so far.

The way the DIY Accounting package works is you fill in your sales on the sales spreadsheet, purchases on the purchases spreadsheet and fill in the bank account. From there the formulae and link structure automatically produce your accounts and tax forms all in the format for submission to Company House and HMRC
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Learn ?and I have many times posted the link to the free HMRC course which can help but will take your time
Appoint an accountant to do it for you. I say this not to tout for work but at the end of the day I choose to get a mechanic to service my car. I could go to night school to learn how to do it myself but I choose not to ?so I must pay for this service.

Operating a limited company is far more complex on reporting to HMRC and Companies House than being self employed. :(

Elaine - I love the car analogy!
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