Hi, I have a question about entering balance sheet figures for web filing.
I have created the balance sheet for the microentity and it balances correctly. I have rounded the numbers to whole numbers for Companies House.
The business does not owe money to other entities or have any debts, except that it will need to pay corporation tax.
I have a figure for the approximate amount of corporation tax the business will need to pay. How do I indicate this on the balance sheet using web filing?
I had imagined I would include it as a figure under "provisions for liabilities". If I do this though, it is added to my total net assets and the balance sheet no longer balances, as this money is already accounted for as part of total current assets.
If I want to include a figure of say 5K under "provisions for liabilities" as money that is earmarked for a future corporation tax payment, is the correct thing to do to also deduct 5K from the figure for total current assets? So total net assets then equals total current assets + provision for liabilities and everything balances as before?
Thanks!
I have created the balance sheet for the microentity and it balances correctly. I have rounded the numbers to whole numbers for Companies House.
The business does not owe money to other entities or have any debts, except that it will need to pay corporation tax.
I have a figure for the approximate amount of corporation tax the business will need to pay. How do I indicate this on the balance sheet using web filing?
I had imagined I would include it as a figure under "provisions for liabilities". If I do this though, it is added to my total net assets and the balance sheet no longer balances, as this money is already accounted for as part of total current assets.
If I want to include a figure of say 5K under "provisions for liabilities" as money that is earmarked for a future corporation tax payment, is the correct thing to do to also deduct 5K from the figure for total current assets? So total net assets then equals total current assets + provision for liabilities and everything balances as before?
Thanks!