Knowledge Base - CT600 Corporation Tax Return

CT600 Corporation Tax Return

	What is a 1046 authentication error? When you receive a 1046 error message in TaxCalc (as shown above), it means one of the following: HMRC hold different details to what has been input into TaxCalc prior to the submission attempt There is a block on your HMRC account. This can happen if you have attempted to file a number...
	26 Oct, 2023 Views: 126778

	CT600 losses and how to carry them back Carrying back company trading losses A company incurring a trading loss in an accounting period can make a claim to offset the loss against total profits of the previous 12 months after first having set the losses against any profits of the accounting period in which the loss occurred. The...
	21 Mar, 2024 Views: 61214

	How do I reclaim tax paid on loans to participators that have been repaid? If you’re a close company that’s previously paid tax on a loan to a participator, you may be able to reclaim that tax. Once the loan has been repaid, released or written off partially or in full, usually the tax can be either offset against current corporation tax liabilities or repaid...
	28 Mar, 2022 Views: 36440

	What exchange rate shall I use to convert foreign income into British pounds? HMRC provides a list of exchange rates to use if you need to convert income into British pounds for your tax return.
	17 Jun, 2016 Views: 35643

	Why can't I print my document or create a PDF? If you're having problems printing or creating a PDF this could be due to a problem with the installation or configuration of the default PDF reader. If you're using TaxCalc 2015 or newer you can switch to TaxCalc Viewer instead. For more information read How do I enable TaxCalc Viewer? If your...
	28 Dec, 2018 Views: 32880

	How should I treat exempt distributions received from another company on a CT600 (previously called Franked Investment Income)? Franked Investment Income (FII) is the former name for UK dividends that a limited company receives from another company. Depending on whether this income is detailed within the profit of your financial statements, there are two possible ways to list this information on the CT600 tax return....
	06 Sep, 2023 Views: 29971

	Tax Rates and Allowances Please select from below: Income Tax National Insurance Contributions Working and Child Tax Credits Child Benefit and Guardian's Allowance Tax Free Savings Account Fuel Benefit Charge Van Benefit Charge VAT Capital Allowances Corporation Tax Authorised Mileage Rates Pension Contributions...
	21 Mar, 2024 Views: 25515

	How do I enter R&D enhanced expenditure (for SMEs) on my CT600? When you make a claim for research and development (R&D) enhanced expenditure for small and medium sized enterprises (SME's), you need to enter figures to adjust the computation to receive relief for the additional 130% (86% from 1 April 2023) of qualifying costs. If there is a loss, you...
	26 Mar, 2024 Views: 25271

	"Can't open this file. There's a problem with the file format" when trying to print preview in TaxCalc using Windows 8/8.1 You might get the following error message instead of a pdf preview window when printing from TaxCalc using Windows 8 or 8.1: Can't Open this file. There's a problem with the file format This could be caused by one of two issues: Adobe Reader isn't installed. Adobe Reader isn't the latest...
	28 Oct, 2015 Views: 16115

	How long do I have to file an amended CT600 return? Amended corporation tax returns can be filed online within 12 months of the original filing deadline. As the original filing deadline is normally 12 months after the accounting period end, you will usually have 2 years from the accounting period end to file an amended return. Once this submission...
	08 Sep, 2021 Views: 16088

	How to utilise Current and Brought forward losses on a Corporation Tax Return. This article will go through utilising current and brought forward losses on a CT600 tax return. Please select one of the following for instructions on how to do this: Offset current year losses Brought forward losses Offset current year losses To offset current year losses against profits...
	04 May, 2023 Views: 15674

	Inputting trading and property income on a CT600 Follow these steps to input trading and property income on a CT600 form: SimpleStep: CT600 Core > Trade and professional income > Tax adjusted profit/loss-disallowable expenditure HMRC Forms: CT600 Core > Computations > Tax adjusted profit/loss-disallowable expenditure Both...
	04 May, 2023 Views: 12685

	How do I complete the CT600 for a long period of accounts? (Practice users) If your accounts cover a period of over 12 months, you'll need to complete the CT600 for two periods, as follows: Prepare the accounts for the full period and generate an XBRL version. Apportion the profit/loss into a 12-month period and the remaining days – using days that meet the HMRC...
	04 Jul, 2022 Views: 11054

	Do I need to attach accounts to my CT600? In most cases you do need to attach accounts to your CT600. For exceptions, see below. You can attach accounts in two formats: iXBRL – for most companies PDF – usually for charities only. Attaching iXBRL accounts iXBRL accounts need to be in .html or .xhtml. Support can supply you...
	04 May, 2023 Views: 10168

	Where do I enter Filing Credentials for Tax Return Production? To enter your HMRC Self Assessment and Corporation Tax Filing Credentials, please follow the below instructions: For your Firm's details: Launch Admin Centre > Applications Click on Tax Return Production > Customise TaxCalc Click on Filing Credentials on the left Enter in your HMRC...
	27 Jun, 2024 Views: 9612