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My question is, when submitting a limited company tax return to HMRC, is the P&L the same as that which is submitted to Companies House? I am a little unsure as to how to account for the unallowable expenses (a highly negligible amount). Presumably I would exclude the expenses which are not tax deductible from general admin expenses within the return?
If I (1) exclude these non tax deductible expenses from the expenses section and (2) the CT600 P&L needs to match the Company House accounts, there will be a discrepancy between the CT600 P&L and the expenses section within the CT600 submission? The expenses are domain registration fees which I understand from HMRC guidance are capital in nature and therefore not allowable.
I hope this makes sense, please let me know if you need further clarification.
Thank you for your reply.
Yes the virtual office is solely to do with my business.
I should have clarified however that there are two elements: registered office and directors service address. Is the latter also tax deductible?
Hello, I have a new company for which I need to file my first tax return. I opted to register with a virtual office for Companies House and HMRC correspondence in order to keep my home address out of the public domain. My question is, whether this is tax deductible and if I can offset this expense against my trading income?