UK tax forms

Tax calculations

The purpose of this section is to calculate profits chargeable to Corporation Tax and tax chargeable, payable, and outstanding/overpaid required for the CT600.
Profit and gains computation
This sheet summarises all taxable profits and chargeable gains, and applies deductions and reliefs that forms profits chargeable to Corporation Tax. This sheet has a reference to the CT600 box number in the right column, and links to the CT600 return forms accordingly. The sheet is automatically present in all calculations.
Tax calculation
Profits chargeable to Corporation Tax are linked from the
Profit and gains computation
 sheet. This sheet summarises relevant reliefs and deductions in terms of tax recorded elsewhere in the calculation, and calculates corporation tax outstanding/overpaid. This sheet has a reference to the CT600 box number in the right column, and links to the CT600 return forms accordingly. The sheet is automatically present in all calculations.
Business summary
This sheet summarises relevant profit/loss information attributable to trading and property businesses recorded elsewhere in the calculation. The sheet is automatically present in all calculations.

Completing the Sheets

Profit and Gains Computation
Amounts are summarised from the data in the relevant parts of the calculation. You can also use available data entry cells to enter some profits or deductions manually.
note
Additional columns are inserted for each accounting period within the calculation. The sheet will automatically apportion figures to each accounting period.
Tax Calculation
Amounts are summarised from the data in the relevant parts of the calculation. You can use data entry cells to enter specific tax deductions and reliefs.
note
Additional columns are inserted for each accounting period within the calculation. The sheet will automatically apportion figures to each accounting period.
Business Profits Summary
Amounts are summarised from the data on the
Adjustment of profit
 sheets and relevant losses figures. This is a review sheet.
note
Additional columns are inserted for each business in the calculation. An additional section is inserted for each accounting period in the calculation. The sheet will automatically apportion figures to accounting period and business. There are two summary columns for trading and property businesses, apportionment of all figures happens automatically. Net trading profit will be calculated as trading profits arising in the period less losses from earlier periods and terminal losses brought back available to set against profits of the same trade.

This article applies to:

  • PRODUCT: ONESOURCE Corporate Tax

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