record of loss of disposal in ct600 - The Book-keepers Forum (UK)

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TOPIC: record of loss of disposal in ct600

Karolle_

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Posts: 25

Date: Mon Aug 13 03:20 2012

record of loss of disposal in ct600	Permalink

I have disposed some assets, some were tools that broken and as we stopped trading i sold netbook and printer. I have not used depreciation as the policy of no depreciation applies in the year of disposal. Tools cost was 455. netbook and printer price altogether was 339, but i sold both for the price of 100, so that amount goes to cash account, I have here a loss of 239, adding together tools, loss of disposing assets is 694. Where to put that loss on accounts template of Hmrc software ct600? if i regard it as an administrative expense, later on I have to include it on gains and losses and it is deducted twice, but if I write it on gains and losses as revaluation deficit it does reduce the profit and I get the error on profit and loss accounts note as they automatically calculats my profit without that loss. So I am confused where to record loss of disposal, these fixed assets do not exist on balance sheet as they are disposed, but current assset cash account is increased by proceeds of disposal, but where to put loss of disposal in order to get everything right.Please somebody help me who have experience in submitting ct600. __________________ km

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