Filing microentity accounts

This is meant to document how to use HMRC’s service to input accounts and company house data when using Beancount and HMRC.

1. Get Beancount up to date
2. Generate annual accounts by editing report
3. Input data here by hand

Opening questions

These are the questions and the answers to which this process applies.

1. What is your organisation?

   • Company

2. Do you want to make changes to a Company Tax Return you’ve already filed?

   • No

3. Have your company accounts been audited?

   • No

4. What type of company are you?

   • Private Limited Company

5. Is your company one of the following? (insurance, investment, credit union, commercial property)

   • No

6. Is your company part of a group?

   • No

7. Is your company registered in the UK?

   • Yes

8. Is your company in liquidation or receivership?

   • No

9. Do you need to report any of the following? foreign currency transactions, adjustment for prior year, financial instruments, restructuring?

   • No

10. Do you need to report income or expenditure from shares? (called up share capital not paid, share-based payments share premium)

    • No

11. Do you need to report income or expenditure from investment assets?

    • No

12. Do you need to report contingent assets?

    • No

13. We need to know if the company has:
    - Charity turnover above £6.5 million per year - company turnover (plus any coronavirus grants) of more than £632,000 per year - Research and Development (R&D) costs - income over £1,000 that does not come from your organisation’s main trade (except any coronavirus grants) - non-trading income (except interest received or any coronavirus grants) - Gross income from property over £5,200 - spent more than £200,000 on assets on which you want to claim the annual investment allowance - decided to claim the Freeport enhanced capital allowance - decided to claim the Freeport enhanced structures and buildings allowance - decided to claim the 50% special rate allowance - income from property where expenses are greater than income - complex loan relationships - leased cars - electric vehicle charging points - zero emissions goods vehicles

    • No

14. Do you need to claim capital allowances?

    • No

15. Choose your filing type

    • Companies House and HMRC

16. Where was the company registered?

    • England and Wales Enter company registration number and e filing code 1.Confirm your company accounts dates
    • confirmed

17. Confirm your Corporation Tax filing dates

    • confirmed

18. Was the company dormant for the entire period you’re filing for?

    • No

19. Was your turnover £632,000 or less?

    • Yes

20. Was your balance sheet total £316,000 or less?

    • Yes

21. Did you have an average of 10 employees or fewer in the period?

    • Yes

22. What type of accounts have you prepared?

    • Micro Entity

You’ve started your filing

And HMRC says: If you leave the service, your saved entries will be here when you return.

1. Did you have any turnover from inside off-payroll working (OPW) engagements in this period?
   • No
2. AC8023 Have you prepared a directors' report?
   • No

First page - Profit and Loss

In drummonds.net I have created a version of the new Profit and Loss layout that exactly matches the requirements of the profit and loss statement.

I have a spreadsheet (Working Sheet.xlsx) that calculates the tax rate This then needs to be put in as a bill.

• To HMRC corporation tax
• Dated at the last day of the oprevious year
• due 9 months later

1. Yes - File my profit and loss account to Companies House
   • Yes

Second page - Balance Sheet

This is like the profit and loss.

Again we can replicate this in the Balance Sheet report in Beancount / Xero.

Employee information

1.What was the average number of employees of your company during the period? Number eg 0 or 1 1.Off balance sheet disclosure - No

Tracking progress

Once you have completed the first stage eg the profit and loss statement then you get more information about what you have completed and the ability to go back and edit parts.

Progress