So......although I have full accounts with appropriate adjustments which I fully understand.......and a (to the penny) tax comp which I have produced manually, I am struggling a little with the HMRC online returns. I haven't got past the accounts section and have queries on the taxation note (is it mandatory?).
There is disallowed expenses box.....which I have simply input the depreciation and an Accelerated Taxation box......which I have input the AIA. Is this all I need to do??
As for notes relating to the directors loan account, as it is in credit (i.e., company has always owed the director) do I need to complete such a note? I had thought about explaining in the further information boxes for both assets and creditors that the director had brought these assets into the company on incorporation (these are first year accounts).
I am sure (he says!!) that the rest will go smoothly.....i.e., computation/CT600......but I am showing my lack of practice experience. I expect that the online tax comp will be whole pounds only so I will have a (slightly) different tax payable amount to that advised to director?
Any help greatly appreciated as time is running out!
