CT600 - Moving to micro entity from full fat accounts

[Project Monkey]

What does your NorthernLadUK say?

"What does your accountant say" obviously.

[kodo]

Hello

I'm doing my CT600 for 2014-2015. I've done my balance sheet and everything is in order. However, I've got boxes on my spreadsheet for Cost of Sales/Admin/Bank/Sundry etc as that was on the CT600 last year and I could just transfer across the numbers.

When I started this years CT600 it gave me the option to use the micro entity accounts. I ticked all the boxes, turnover, employees etc so I went for them. This was way easier than the last 3 I've filed and I get everything to tally with my balance sheet but left me with a problem of divying up the costs from last years entries into boxes which are different to the ones on the micro entity one.

So the first question is - if I've used the full fat version before can I move to the low fat micro entity one at all? Some boxes exist on both AC12/AC13 (Turnover) but others don't. For example I don't have a AC411 for 2013/2014 but have related ones like AC14/AC20 that would be composed of the values that would be in an AC411 if one existed.

If I can move to the micro entity accounts how do I transition lasts years AC14 (Cost of sales) and AC20 (Admin expenses) in to the micro entity choices (AC410/AC415/AC425)

AC415 (Staff costs) is simple but the AC410 (Raw materials and consumables) doesn't fit with my business (IT consultancy) and AC425 (Other charges) looks promising until you read the help message which seems to relate to interest, loans and overdrafts.

Putting my Admin/Bank/Sundry numbers in as either AC410 or AC425 and PAYE into AC415 tallys with my balance sheet (profit, current assets etc) for both this years columns and the previous years columns but doesn't seem right to put these kind of expenses there (phone, bank charges etc)

Obviously the big numbers at the bottom of the profit/loss don't change. I take in X, spend Y and have Z left over and that "Z" is of interest to HMRC. So I guess HMRC won't care how the costs are apportioned but I'd like to think I've done the right thing....

Many thanks in advance.

Kodo

Seems this is new to everybody - so, just as an update... I've gone with putting everything into AC410 (Raw Materials and Consumables). Hopefully, this is correct. Funnily enough when you get to the "Computations" the usual Admin/Bank/Sundry breakdown is back so my spreadsheet was useful after all.....

[jmo21]

What does your NorthernLadUK say?

[kodo]

Hello

I'm doing my CT600 for 2014-2015. I've done my balance sheet and everything is in order. However, I've got boxes on my spreadsheet for Cost of Sales/Admin/Bank/Sundry etc as that was on the CT600 last year and I could just transfer across the numbers.

When I started this years CT600 it gave me the option to use the micro entity accounts. I ticked all the boxes, turnover, employees etc so I went for them. This was way easier than the last 3 I've filed and I get everything to tally with my balance sheet but left me with a problem of divying up the costs from last years entries into boxes which are different to the ones on the micro entity one.

So the first question is - if I've used the full fat version before can I move to the low fat micro entity one at all? Some boxes exist on both AC12/AC13 (Turnover) but others don't. For example I don't have a AC411 for 2013/2014 but have related ones like AC14/AC20 that would be composed of the values that would be in an AC411 if one existed.

If I can move to the micro entity accounts how do I transition lasts years AC14 (Cost of sales) and AC20 (Admin expenses) in to the micro entity choices (AC410/AC415/AC425)

AC415 (Staff costs) is simple but the AC410 (Raw materials and consumables) doesn't fit with my business (IT consultancy) and AC425 (Other charges) looks promising until you read the help message which seems to relate to interest, loans and overdrafts.

Putting my Admin/Bank/Sundry numbers in as either AC410 or AC425 and PAYE into AC415 tallys with my balance sheet (profit, current assets etc) for both this years columns and the previous years columns but doesn't seem right to put these kind of expenses there (phone, bank charges etc)

Obviously the big numbers at the bottom of the profit/loss don't change. I take in X, spend Y and have Z left over and that "Z" is of interest to HMRC. So I guess HMRC won't care how the costs are apportioned but I'd like to think I've done the right thing....

Many thanks in advance.

Kodo