Balance sheet

If the balance sheet entries are left blank then no balance sheet will be included on the tax return.

Field Description
Equipment, machinery and vehicle The value of plant and equipment, and so on.
Other fixed assets The value of any other fixed assets.
Stock and work in progress The value of stock and any work in progress.
Trade debtors The total owed.
Bank / building society balances The total cash at bank.
Cash in hand The total cash in hand.
Other current assets and prepayments The value of all other current assets, including prepayments.
Total assets Displays the total assets.
Trade creditors The total for trade creditors.
Loans and overdrafts The value of any loans or overdrafts.
Other liabilities and accruals Any other liabilities including accruals.
Net business assets Displays the net assets minus liabilities.
Balance at start of period

The balance at the start of the period.

If balances have been rolled forward from the previous tax year, they are automatically displayed here.
Net profit or loss Displays the net profit or loss from the accounts entered.
Capital introduced

The value of any capital introduced into the business.

As advised by HMRC, where sole trader accounts have been prepared and included the SEISS received, and appropriate adjustments made to Any other business income to exclude SEISS, the net profit or loss will be different from that shown in the accounts. Add SEISS payments received into Capital introduced so that the balance sheet balances.

Drawings The value of any drawings from the business.
Balance at end of period Displays the balance at the end of the accounting period.