Damn CT600

[xoggoth]

Not in accounts forum because it is not a question, just a RANT!

Spent hours and hours doing CT600 for my crappy little business over last couple of days. It has almost no profit yet is 10x as complicated as my contracting business, 5 different accounts including bank, cash, Paypal, Worldpay and Google, stock, numerous small sales that need to be checked for payment, a total idiot (my sister) doing the bookkeeping, etc.

When you have filled in the profit and loss and balance sheet, why do you have to put the same info in notes to the accounts and then do lots of it again for the CT600 calculations? Why can't we have a much simpler business model and accounting system for very small businesses? Seem to remember Gordon Brownstuff promising this years ago but (unsurprisingly) it has never happened.

I am going to write to my useless MP on the issue yet again. Maybe other contractors with little plan Bs should do the same. This ridiculous level of admin will put anyone off even trying to start a new business. Unlike mine, some of them might have grown to be real contributors to the economy.

[darmstadt]

You need to lobby one of the small business commissioners that Cameron appointed in order to get this sort of thing cut back. Like you've said, I've known people (I was nearly there once but this put me off) who have just thrown in the towel due to the ever increasing amount of petty bureaucracy that being a small business entails which I feel is a real shame as many of these companies could have become larger and provided much to the UK economy, similar to the mittlestand in Germany. Keep going, you'll get there in the end

[I just need to test it]

I thought this was going to be a thread about a poorly fitting chastity kit.

[VectraMan]

If I remember correctly, you have to enter the corporation tax in the first part (i.e. amounts due within one year) BEFORE it lets you get to the second part that works out your corporation tax.

This is my MP in action:

Nothing To Do With Arbroath: Conservative MP's car crashed into portaloo, Poundland, van and cars

[barrydidit]

This is my MP in action

[xoggoth]

If I remember correctly, you have to enter the corporation tax in the first part

Indeed, you can't do the P&L without CT. Box AC32. What is really annoying is that a simple little round off error of £1 prevents you going to the next page. Obviously it should not submit without error but it would be nice if you could fill it all in, print it off and then check through at your leisure.