Check

Other income

Money coming in that is not sales, for example bank interest or a small grant.

Enter 0 if there is none.

General help, not tax advice.

Cost of goods and materials

What you paid for goods or materials that you resell, or use to make what you sell.

Enter 0 if your business does not buy stock or materials.

General help, not tax advice.

Depreciation

The value written off equipment over time as it wears out.

If you do not record this, enter 0.

If unsure: If you do not record depreciation in your books, enter 0.

e.g. A laptop bought for £1,200 and written off over 3 years: £400 a year.

General help, not tax advice.

Costs not allowed for tax

Some spending is a real business cost, but HMRC does not let you deduct it when working out tax. Client entertaining is the usual example.

Add those costs up and enter the total here. It increases your taxable profit.

Leave it empty if you have none.

If unsure: If you had no client entertaining or similar costs, leave it empty.

e.g. £400 spent entertaining clients: enter 400.

General help, not tax advice.

Extra tax deductions

Amounts HMRC lets you deduct from your profit on top of what is in your accounts.

Most small companies leave this empty.

If unsure: Most small companies leave this empty.

General help, not tax advice.

Losses from earlier years

If the company made a tax loss in an earlier year and has not yet used it, you can set it against this year’s profit.

Enter the amount still unused. Leave it empty if you have none.

If unsure: Leave it empty if the company never made a tax loss.

e.g. A £5,000 loss from last year that has not been used yet: enter 5,000.

General help, not tax advice.

Long-term assets

Things the company owns and will use for more than a year, such as equipment, vehicles or property.

Enter what they are worth on 31 Mar 2026.

If unsure: If the company owns no equipment, vehicles or property, enter 0.

e.g. A van worth £6,500 and office equipment worth £900: enter 7,400.

General help, not tax advice.

Stock

Goods you hold to sell, or materials you hold to use, on 31 Mar 2026.

If unsure: Enter 0 if the company holds no goods or materials.

e.g. £2,300 of products in the warehouse on the last day: enter 2,300.

General help, not tax advice.

Money the company owes, due after a year

Debts that do not have to be paid for more than 12 months, such as a long-term loan.

Enter 0 if there are none.

If unsure: Most small companies have none. Enter 0.

e.g. A bank loan with £5,000 still to repay more than a year after 31 Mar 2026.

General help, not tax advice.

Provisions

Money set aside for a future cost that is likely but not certain.

Most small companies enter 0.

If unsure: Enter 0 unless you have set money aside for a specific future cost.

e.g. Money set aside for a repair the company has to carry out next year.

General help, not tax advice.

Accruals and deferred income

Accruals are costs between 1 Apr 2025 and 31 Mar 2026 that you have not been billed for yet. Deferred income is money you were paid in advance for work you will do later.

Enter 0 if there are none.

If unsure: Enter 0 if every cost has been billed and nobody paid you in advance.

e.g. £300 of electricity used but not billed yet, or £1,000 a customer paid in advance for work next year.

General help, not tax advice.

Reserves brought forward

Profit the company has kept from earlier years, as it stood on 1 Apr 2025.

For a new company it is 0. If the company has built up losses, we cannot file for it yet.

If unsure: Look at last year’s accounts: it is the retained profit shown at the end of that year. For a new company it is 0.

e.g. Last year’s accounts showed retained profit of £12,000: enter 12,000.

General help, not tax advice.

Dividends paid this year

Profit the company paid out to its shareholders between 1 Apr 2025 and 31 Mar 2026.

Enter 0 if none.

If unsure: Enter 0 if no dividends were paid.

e.g. £10,000 paid out to shareholders during the period: enter 10,000.

General help, not tax advice.