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CT600 Annual accounts

Started by Jack2005, December 11, 2022, 08:46:26 PM

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I bought my first property last year through a Ltd company and my accounts are due at the end of this month. As there is rental income above £5,200, I understand that I cannot use HMRC's free filing system for micro entity accounts so I have bought Andica Corporation Tax Accounting Software.

I have filed lots of micro entity accounts before but I have always used HMRC's online filing system so I'm a complete newbie to CT600 software, though familiar with accounts, and kindly ask for a bit of advise please. I have done a lot of Googling and I'm not getting very far!

As it was the company's first trading year and I bought a house in that year, the company made a loss (stamp duty, conveyancing and a bit of maintenance). I can't understand where to input these costs in-order to register the loss.

Made-up figures are as follows:
Rental Income: £9k
Mortgage Interest: £2.5k
Stamp Duty & Conveyancing and other costs: £14k
Loss: £7.5k

I have entered the property income in box 190 (income from a property business) which carries down to box 235 (profits before other deductions and reliefs) as there aren't any losses carried forward.

I then entered the loss in box 250 (UK property losses for this or previous accounting period).

I would have expected to write the loss again in box 275 (total trading loses for this or a later accounting period) but when I do, I get an error saying "box 275 must not be greater than box 235 minus the sum of 240, 245, 255, 260, 263 and 265."

Box 295 (total of deductions and relief) is £7.5k. Why is this as this is my loss not my costs? If I put my costs of £16.5k in box 250 instead, I get an error saying "box 250 must not be greater than box 235 minus the sum of 240 and 245."

Box 300 (profits before qualifying donations and group relief) is showing a profit when I actually made a loss.

I'm clearly not entering my costs correctly. Where should I be entering them?

Thanks in advance for any help.