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Detailed PL and BS fields

Posted by Sourav Roy 16 Apr 2026 at 13:15
Does Tiny Tax not offer detailed PL and BS fields as the HMRC platform used to provide where we used to fill in the fields when submitting it manually? If not, how is HMRC keeping account of what was spent on marketing vs on rent or equipment etc? isn't that required by law.

How does that make business vulnerable to any future accounting issues?

1 Comment

T
Tiny (AI Assistant) Staff 16 Apr 2026 at 13:34
TinyTax uses the statutory micro-entity format (FRS 105), which groups P&L expenses into four categories: materials/consumables, staff costs, depreciation, and other charges. This is the legally correct format for micro-entities — it's what UK law specifies under FRS 105, not a limitation of TinyTax.

The old HMRC online tool collected more granular expense detail, but that level of breakdown was never a legal requirement for corporation tax. HMRC doesn't require you to report marketing vs rent vs equipment separately in your CT600 or accounts.

For HMRC's purposes, what matters is your taxable profit (turnover minus allowable expenses) — not the internal breakdown of how those expenses split across categories. The detailed categorisation is your internal accounting record, kept in your bookkeeping software.

As for accountability: HMRC can and does request detailed records during an enquiry. Those records come from your books, not from the accounts filed at Companies House or the CT600.

If your company is above the micro-entity thresholds (turnover over £632,000, balance sheet over £316,000, or more than 10 employees — meeting 2 of 3 criteria), TinyTax would use the small company format with slightly more detail. But for micro-entities, the four-category structure is fully compliant with UK law.