Standard Microentity Accounts

Problem reported by Cliff Winckless 7 years ago

  1. Is there a way to output a report which is in the same format as the standard microentity accounts required by HMRC on their online tax submission forms. The Clearbooks management reports have different headings and totals to the HMRC website forms

  2. Is yes above can Clearbooks post this directly to HMRC without having to retype all the numbers into the HMRC web forms

gratefully yours

Cliff Winckless

2 Replies

Hi Cliff - no on both I'm afraid.

On 1. the saving grace is that the ME accounts format is so simplistic now, it takes far less time to convert the bookkeeping reports into ME, compared to before with "Small Company" formats.

On 2. At one time CB did start to develop ME format accounts but all the text and numbers have to be electronically tagged when submitted electronically to Companies House and HMRC, with the latter taking far more because you include a detailed P&L. Also, the HMRC submission is far more onerous as you'd also have to create an electronically tagged tax return and tax computations.

The other aspect here is that, unless the government's current mess creeps into this as well, the plan is that, in a few years, small companies will have basic number submissions every 3 months to HMRC, with a year end catch up and these will be done directly from the bookkeeping and so CB and other providers are concentrating on being ready for this.

Thanks again Paul, for more of your great advice.

Theo

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