Hi Tatiana
Not read the whole question, just got as far as the excel part, but thought to ask the following before you go any further...

What software are you using for filing the accounts/how will you convert to iXBRL to file at companies house and HMRC along with the CT return?

Oh and under what standards are you filing?

Tatiana wrote:

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hi Joanne,

I have only one client , do I need to buy a software to do this? can I not just file these in pdf? sorry, I feel a bit dumb at the moment.

about standards, I have registered with Money Laundering Regulations, is this what you mean?


thank you

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 Hi Tatiana,

no, she means to which financial reporting standard (i.e. FRS102 / FRS105).

You will need to prepare both abreviated and full accounts. Abreviated to file with Companies house, full accounts for HMRC to go along with the CT600s.

For very small and simple clients it is possible to use the clients login details to manually enter to information rather than attaching iXBRL marked up accounts. I've not used that method for a while so it may have changed.

You may find this page useful https://www.gov.uk/company-filing-software

On page two, from the list I use VT Accounts. Costs around £200 per years and comes bundled with a a copy of VT Transaction+ which is excellent bookkeeping software (once you get used to it. Some Sage people have difficulty adjusting to the VT way of thinking).

Take a step back, slow down and ensure that you are completely comfortable with the services that you offer before offering them as being sued by clients can soon wipe out any money that you make... And possibly a lot more than that.

kindest regards,

Shaun.

Kindest regards,

Shaun.

Shamus wrote:

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 Hi Tatiana,

no, she means to which financial reporting standard (i.e. FRS102 / FRS105).

You will need to prepare both abreviated and full accounts. Abreviated to file with Companies house, full accounts for HMRC to go along with the CT600s.

For very small and simple clients it is possible to use the clients login details to manually enter to information rather than attaching iXBRL marked up accounts. I've not used that method for a while so it may have changed.

You may find this page useful https://www.gov.uk/company-filing-software

On page two, from the list I use VT Accounts. Costs around £200 per years and comes bundled with a a copy of VT Transaction+ which is excellent bookkeeping software (once you get used to it. Some Sage people have difficulty adjusting to the VT way of thinking).

Take a step back, slow down and ensure that you are completely comfortable with the services that you offer before offering them as being sued by clients can soon wipe out any money that you make... And possibly a lot more than that.

kindest regards,

Shaun.

 

Kindest regards,

Shaun.

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 hi Shaun

We crossed in the post!

Using the clients login is becoming increasingly difficult, what with the additional verification process you have to do now (HMRC are deliberately trying to prevent such), plus you cannot attach the accounts as you have been able to do in the past.  You effectively end up having to fill in every line of the accounts as you will have done already, although the HMRC screens are a right old mare and I did find a fault in them when I did mine - a fault that, as far as I am aware, has still not been rectified, so you may end up with mis-matching accounts, which contain an error (all around the tax aspect!!!).

Oh and another thought (I keep doing that, sorry) - using that method will also mean the HMRC template reports (IN FULL) could end up at Companies House, rather than the abridged version.  Does your client really want that?!!

Tatiana wrote:

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what I have just done was, I logged in , as you said, into company's account and choose the Micro- entity accounts option, and it asked to fill in only the balance sheet, and it is been accepted. as from what I understand, no need for profit and loss account?!


thank you once again.

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 When you say logged in - do you mean companies house  or HMRC?

Tatiana wrote:

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Thank you Shaun for your clear response :). my client is very small and simple, that is why I took him. I would definitely not go with something I am not comfortable with. I also have 2 small kids to take care of, so I decided just to take it slowly until I would be available to extend my practice and invest in softwares, until then I will continue learning from you the experienced ones.

what I have just done was, I logged in , as you said, into company's account and choose the Micro- entity accounts option, and it asked to fill in only the balance sheet, and it is been accepted. as from what I understand, no need for profit and loss account?!


thank you once again.

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I can see you have now logged off.

Your are very welcome to my help too Tatiana.

I wont even go into the rules of the site about professional etiquette amongst others.

Never mind the fact that, once again I asked a couple of questions which have been ignored, despite the fact that the answers to which wouldve helped not only the OP but others on this site.

I only hope that in the few minutes between asking the question about notes to go in the Accounts, Shaun's response (which didnt actually cover the notes) and the OP's filing of said accounts (wherever they were filed) that the OP actually had her clients signature on a set which authorises both the content (including notes) and authorises her to file them under the MOST appropriate standard for the business on an ONGOING basis.

Im out!!!!

Shamus wrote:

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Well I love you Joanne even if some new posters don't appreciate you.  Ahhhh Shaun, such a lovely thing to say   

You should be a Nun the patience that you normally have with new posters. 

You know what would relieve the stress of being ignored... Making a large batch of Cakes for John and myself... If you haven't got enough ingredients forget about John. lol.

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How about an Angry Bird cake?!!   Appropriate yet still tasty.

I will let Mrs Leger have the recipe so she can keep her man happy.

Think I will go and have some Sunday fun! 

Oh Doug yes you are a very polite young man! The cakes were originally just for Mr Moderator, but then John muscled in by kidnapping the delivery man. Despite sending cakes by Securicor, he always managed to discover the route and sabotage the plans, it was total carnage I can tell you.

This was just one such incident

I think I might have to set up my cake making business after all.

Hahahaha Joanne

Your picture didn't have to be that big, I thought I'd missed a chunk out of one of my sentences.

Doug, there's a long history between myself and Shaun, and our attempts to get our hands on Joanne's wares.  Shaun has sabotaged my efforts en route to Cheshire just as many times as I have sabotaged his, so don't start feeling sorry for him.  

 The financial year of the company i have is 1 October 2015 to 30 September 2016. the client is a very small company, and a very simple one. he needs the accounts done only for the tax purposes . previous financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities. It is my only client and it is going to remain the same for a long period, as I would not have necessary time to  carry  a proper work for other clients.  what I have done today was to log into companies house account, and it asked to fill in only a few lines of the balance sheet, nothing else, is it not good?

I do not intend to take other clients, so I do not see it worth investing in a software, that is why I thought it might be other option for me to help my client. Regarding ACCA, this is not going to happen very soon. 

I will definitely take into consideration your advice regarding CT return. 

please forgive my absence, and can I have your address I can send you cake :)

Hi Leger,

I am very grateful to everyone who took his/her time and read my question and tried to help , I did not expect this considering it is SUNDAY. this shows how dedicated everyone of you is. 

regarding your question, do I need a software to do CT ? can I not do it without one? 

thank you !

kind regards

Tatiana

Tatiana wrote:

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Hi Leger,

I am very grateful to everyone who took his/her time and read my question and tried to help , I did not expect this considering it is SUNDAY. this shows how dedicated everyone of you is. 

regarding your question, do I need a software to do CT ? can I not do it without one? 

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 Hi Tatiana, please call me John.

We're all happy to help, it's one of the reasons I like this forum.  You have two options.  First is to file using the Government gateway, for which you''ll need your client's log in details.  There will be a very long PDF form to complete, and it automatically computes in the background, so if you get something wrong, it gets stroppy and you have to then figure out where you went wrong.

The 2nd option is to use online software called Taxfiler.  You'll need a trial balance, and you'll also need to be an agent for your client.  (Being an agent allows you to speak to HMRC on your client's behalf as well)  If you go for this option and you need help, there's a few of us who use the software who'll be able to help you if you get stuck.

Now the best bit, you can sign up to taxfiler for one month, which will cost you £12, then cancel your subscription and do the same next year.

Out of interest, how has your clients' tax return been filed in previous years?

Leger wrote:

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 Hi Tatiana, please call me John.

We're all happy to help, it's one of the reasons I like this forum.  You have two options.  First is to file using the Government gateway, for which you''ll need your client's log in details.  There will be a very long PDF form to complete, and it automatically computes in the background, so if you get something wrong, it gets stroppy and you have to then figure out where you went wrong.

The 2nd option is to use online software called Taxfiler.  You'll need a trial balance, and you'll also need to be an agent for your client.  (Being an agent allows you to speak to HMRC on your client's behalf as well)  If you go for this option and you need help, there's a few of us who use the software who'll be able to help you if you get stuck.

Now the best bit, you can sign up to taxfiler for one month, which will cost you £12, then cancel your subscription and do the same next year.

Out of interest, how has your clients' tax return been filed in previous years?

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Hi John, sorry for the big pic, I didn't have time to start faffing around to make it smaller. Wish I could find the pic you actually posted at the time as that was a good one as I seem to recall the van in a ditch! I've got cakes strewn all over the floor in the picture in my head, but think that's my imagination in overdrive!

Re the Gov gateway option, has the darned thing been fixed now? Good, if so,  as I had a rolling three weeks almost daily conversation with HMRC escalating the query because they had no one who understood a set of accounts so couldn't see why it was producing wrong answers!!

Also re Taxfiler when I signed up it stated if you cancelled it,  then returned within 2years you would be charged a one off fee to re-use it. Have you got away with cancelling and rejoining in less? I did ponder doing so but now would be averse to do it as I would lose my current set up (although obviously all actual submissions are backed up!) 

Edited to correct typos

thank God you are ok now. I certainly do not want to upset anyone. I am trying to do this around my kids, and it is a bit difficult , but at the same time, my love for accounts doesn t let me to give up. 

Tatiana wrote:

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thank you John

 

I have thought of these options, the first one, I think , is the most achievable in my situation. I sent, last  week,  the letter to agents department to ask the agent codes and I do not know how long it is going to take to receive them, and I do not want to risk and be late with CT. and also, I have looked at VTfiler and as Joanne said , if I cancel it , I won't be able to enter my agents code again. 

 

the client has moved from the city where he had his previous accountant. it was a chartered accounting firm. 

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 Hi Tatiana

I have assumed (possibly wrongly) that the client has his own log in to file the CT600.  If you're going with the first method that is the only way you can do it that way.  Agents are not allowed to file using the HMRC method, and must use 3rd party software.  My apologies on Taxfiler, I was under the impression you could cancel and renew as and when you needed it.  Using taxfiler is going to cost you £144 for the year, is there enough in your budget to meet that cost?  Alternatively there is Andica, which will allow you to do one CT600 for £48.00

I would echo Johnny's sentiments that if you're not at all sure what you're doing is to pass it on to someone more experienced, but just reading up, you have passed the AAT so all the theory is there, you just need the practical experience. I did my first CT600 in 2013, and it was very much a baptism of fire, and fortunately I managed to get through it successfully.  I switched to taxfiler last year, and find it much easier, as the HMRC CT600 is very clunky.

Hi Joanne

I've never cancelled Taxfiler, so don't know the answer to that.  I do 5 or 6 Company returns a year, so for me it's worth paying for Taxfiler.  I've started using it for sole trader returns as well now, although I must admit I prefer doing it via HMRC.  

Now that I'm at work, your picture is a lot smaller, but it's a bigger monitor.  I've attached the pic you were thinking of, (I couldn't find the original thread) I shall expect the cakes in the post this week sometime, seeing as there's enough for everyone. 

Shamus wrote:

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Leger wrote:

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Now that I'm at work, your picture is a lot smaller

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 I shrank it.

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 Ah, that explains it then.

Leger wrote:

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Hi Joanne

I've never cancelled Taxfiler, so don't know the answer to that.  I do 5 or 6 Company returns a year, so for me it's worth paying for Taxfiler.  I've started using it for sole trader returns as well now, although I must admit I prefer doing it via HMRC.  

Now that I'm at work, your picture is a lot smaller, but it's a bigger monitor.  I've attached the pic you were thinking of, (I couldn't find the original thread) I shall expect the cakes in the post this week sometime, seeing as there's enough for everyone. 

 

 

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 Yes I think that was the piccie. Lol on the other shrinking one. Sorry Shaun - didnt mean to put you to any extra work!   Cakes are in the post to one and all.......ok the crumbs are....my neighbours and the bloomin window cleaners found out I was baking and there was a rush on them! 

Doug, you need to be leaning on the lamp post on the corner of her street, just in case that certain little lady passes by.

Leger wrote:

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Doug, you need to be leaning on the lamp post on the corner of her street, just in case that certain little lady passes by.

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We are a reet old bunch arent we!  

Personally when I think of lamp posts, as an ex dancer, I think of this

https://www.youtube.com/watch?v=D1ZYhVpdXbQ