online filing incentive on Corp Tax return?

[Olly]

okey doke thanks, hmmm ....the discrepancy is elsewhere where then I'll get the magnifying glass out.

Last time I couldn't find a couple of hundred quid in the figures I just deducted it from the directors loan account (company owed me money) the way I figured is by doing it that way the worst case is I'm 20% of that amount out of pocket

[Craig at Nixon Williams]

Hi, yes that's the one, they kept it on ice as I there were no PAYE/NIC payments due for it be deducted from.
I'll have a bash at re-working the numbers in a tick. It has been on the books as a creditor for a number of years though I don't know if it ever impacted profit. Only in the last tax year was it refunded.

Thanks

I assume you mean a debtor rather than a creditor? On that basis, it sounds like it was reported in the P&L in a previous year? It is the year that it was reported on the P&L that it would affect the CT return, not when the money was actually received from HMRC.

Hope this helps!
Craig

[Olly]

Is this a PAYE incentive? It is quite some time since HMRC gave the online filing incentive, I assume that it is two years of the incentive (one at £100 and one at £75)..

If this is what it is then it is not subject to Corporation tax and should be deducted from the profits that are entered into box 2 of the CT return.

Hope this helps!
Craig

Hi, yes that's the one, they kept it on ice as I there were no PAYE/NIC payments due for it be deducted from.
I'll have a bash at re-working the numbers in a tick. It has been on the books as a creditor for a number of years though I don't know if it ever impacted profit. Only in the last tax year was it refunded.

Thanks

[Craig at Nixon Williams]

Is this a PAYE incentive? It is quite some time since HMRC gave the online filing incentive, I assume that it is two years of the incentive (one at £100 and one at £75)..

If this is what it is then it is not subject to Corporation tax and should be deducted from the profits that are entered into box 2 of the CT return.

Hope this helps!
Craig

[eek]

Hi,
I received £175 to my company bank account for the online end of year filing incentive.
Where should I put this on the online corporation tax return please?
"Other operating income"?
I guess it shouldn't be subject to corp tax.
Thanks

You clearly don't know how HMRC works......

[cojak]

(PS - Olly's going back to permiedom)

[Olly]

Hi,
I received £175 to my company bank account for the online end of year filing incentive.
Where should I put this on the online corporation tax return please?
"Other operating income"?
I guess it shouldn't be subject to corp tax.
Thanks