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Long period of accounts CT600

Long period of accounts CT600

If your year-end accounts cover a period of more than 12 months, you’ll need to prepare two Corporation tax returns. The first return will be for the first 12 month period and the second return will be for the rest of the period. Please complete the following steps for instructions on how you would do this on BTCSoftware’s CT Solution:

1. Prepare year end accounts for the full period and generate an iXBRL file

2. From the Year end accounts summary screen, click on Open CT Return

3. You will be presented with the following window

Long period of accounts CT600, BTCSoftware

4. Selecting Long Period First will create both return periods in the background and the Corporation tax return summary screen for the long period will open

5. Click on Edit Record on the top toolbar

6. From the Corporation Tax Return Summary, click on Open CT Comp & CT600

7. The figures from accounts are automatically apportioned between the Long and short period returns and the Corporation Tax Calculation page is automatically populated with the Turnover from Trade or Profession, Profit/(Loss) as per accounts and certain figures e.g. depreciation, bank interest received.

8. You will need to manually enter any add backs, disallowable expenditure not already included.

9. Additional schedules like capital allowances, R&D claim etc need to be completed manually as well.

10. After you complete this CT600, click on Check and Generate iXBRL file

11. Then, open CT600 for the short period to repeat steps from 6 to 9.

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