Knowledge Base - CT600 Corporation Tax Return

CT600 Corporation Tax Return

	How do I complete a CT600 for a property company? (Business users) To complete a CT600 for a property company, follow these steps: Open the CT600. Go to Company Type (SimpleStep mode) or Information (HMRC Forms mode). Tick the box labelled Should the company be taxed as a Property Business (formerly Schedule A)? Open the Tax Adjusted Profit/(Loss)...
	03 Aug, 2020 Views: 4539

	TaxCalc doesn't generate a print preview TaxCalc uses the Adobe pdf file standard as its printing output. This allows you to have more control over the printing options and also allows you to save your tax returns as pdf documents. If you get an error from Adobe Reader when trying to generate a print preview, follow these instructions:...
	16 Mar, 2016 Views: 4511

	Tax on COVID grants During 2020, and continuing throughout 2021, the government provided grants to assist businesses that were affected by the Coronavirus pandemic. How are COVID grants taxed? The legislation confirms that all COVID-19 support scheme payments are taxable under either Income Tax or Corporation Tax...
	11 May, 2023 Views: 4337

	Error message: 1610 The accounting period for this amended return does not match the records currently held for the company When you file a Corporation Tax return to HMRC, the system expects the next return to be either an amended return or a new return following on from the last period. If you submit an incorrect period and then try to amend the dates, you'll get the following error message: 1610 Known Facts Check...
	21 Sep, 2015 Views: 4331

	How to enter multiple trades on the CT600? Unfortunately, you cannot enter multiple trades on the CT600. Instead you need to enter the combined figures into the computation to show the overall position and then attach a PDF computation for each trade to show the individual computations. This can be done in either SimpleStep or HMRC Forms...
	25 Oct, 2022 Views: 4111

	Where do I enter Special Withholding Tax on a CT600? To enter Special Withholding Tax on a CT600, follow these instructions: CT600 (2015) Version 3 SimpleStep mode – CT600 Core > Reliefs and deductions in terms of tax > Double taxation relief. HMRC Forms mode – CT600 Core > Page 5 > Box 450. CT600 (2008) Version 2 PLEASE...
	29 Mar, 2017 Views: 4008

	How do I add a new asset to the Capital Allowances grid? To enter a new asset on the Capital Allowances grid, first go into the Capital Allowances wizard. SimpleStep mode SA100 – Your Work > Self Employment > Short/Full Form – Details > Capital Allowances SA800 – Trades or professions for (XXX) > Capital allowances for > CA...
	03 Aug, 2020 Views: 3932

	Where to enter Coronavirus Support Schemes on CT600s This article will run through where to enter Coronavirus Support Schemes on a CT600. You can enter this information in one of two ways: SimpleStep mode: Coronavirus support schemes and overpayments > boxes 471 - 474 as required. HMRC Forms mode: CT600 Core > Core > Page 5 >...
	04 May, 2023 Views: 3787

	You must enter the Type of Capital Allowances / Purchase Date If you receive either of these error messages when you click on Check & Finish, it means that there's an empty asset somewhere within the Capital Allowance wizard. To correct this you will need to go into the Capital Allowance wizard in SimpleStep mode and remove the empty asset. Further...
	28 Mar, 2022 Views: 3676

	How do I remove the watermark when printing a return? If you want to remove a watermark from a tax return, you'll need to amend the printing preferences: Open the tax return. Click on Check and Finish. Click on Print or paper file return. Click on Next Step in the HMRC warning message (if applicable). Un-tick Would you like to add a watermark?...
	29 Mar, 2022 Views: 3437

	How do I view, modify or import old CT600 returns? (Practice customers) If you want to open a CT600 return made in an earlier version of TaxCalc, follow these steps: Go to Practice Manager. Click on Import Client Select the tax year you wish to import the file from click Continue Choose if you want to import a single return or multiple returns and Browse to...
	29 Mar, 2022 Views: 3304

	How do I offset current year trading losses against other profits or chargeable gains on a CT600? To offset current year trading losses against other profits or chargeable gains on a CT600, follow these steps: SimpleStep go to CT600 > Losses, Management expenses, NTLRDs and NTLIFAs > Trading Losses > Enter the amount in the box labelled Set against other profits or chargeable...
	20 Apr, 2023 Views: 3206

	How do I write off small pools in the Capital Allowances grid? To write off small pools (with a balance of less than £1,000) and claim the allowance, first open the Capital Allowances grid. SimpleStep mode SA100 – Your Work > Self Employment > Short/Full Form – Details > Capital Allowances SA800 – Trades or professions for (XXX) >...
	17 Sep, 2024 Views: 3164

	How do I unlock my return? Your return is locked if: all fields in TaxCalc are filled in yellow a no-entry symbol appears when you hover over the fields with your mouse you can't enter data into the fields. To unlock the return, follow these steps: Click on File from the top menu. Remove the tick next to Lock...
	02 Mar, 2018 Views: 3046

	How to reflect Goodwill relief on the Corporation Tax Return? HMRC have recently amended the rules (01/04/2019) on instances where profit can be reduced by claiming corporation tax relief on goodwill and relevant assets. We would recommend reading the HMRC guidance further on this particular topic to ensure you understand this fully before any entries are...
	28 Mar, 2022 Views: 2688