FreeAgent and CT600 Filing

FreeAgent is popular accounting software for small limited companies. While FreeAgent handles day-to-day bookkeeping, you'll need specialist software like TinyTax to file your CT600 and company accounts.

Understanding the Workflow

Here's how FreeAgent fits into your tax filing:

1. FreeAgent - Day-to-day bookkeeping throughout the year
2. Export - Generate trial balance at year end
3. TinyTax - Import figures and complete CT600
4. File - Submit to HMRC and Companies House

FreeAgent doesn't file CT600 returns directly, but it provides the figures you need.

Exporting from FreeAgent

Trial Balance Export

1. Log into FreeAgent
2. Go to Accounting > Reports
3. Select Trial Balance
4. Set your accounting period end date
5. Click Export and choose CSV or Excel

Profit and Loss Report

For a clearer picture:

1. Navigate to Reports > Profit and Loss
2. Set the full accounting period dates
3. Export for reference

Key FreeAgent Reports for CT600

Report	CT600 Use
Trial Balance	Import into TinyTax
Profit and Loss	Box 145 (turnover), expenses
Balance Sheet	Fixed assets, creditors
Corporation Tax	Estimate (use TinyTax for filing)
Capital Assets	Capital allowances calculation

Preparing Your Year End in FreeAgent

Before exporting, complete these steps:

Bank Reconciliation

• Ensure all bank feeds are matched
• Clear any unexplained transactions
• Reconcile to bank statements

Invoice and Bill Management

• Mark invoices as sent/paid
• Ensure all bills are entered
• Check nothing is stuck in draft

Fixed Assets

• Review depreciation calculations
• Add any new asset purchases
• Dispose of sold assets correctly

Director's Loan

• Check DLA balance is accurate
• Ensure personal expenses are properly posted

Importing to TinyTax

With your FreeAgent export ready:

1. Start CT600 filing in TinyTax
2. Select Import Trial Balance
3. Upload your FreeAgent export file
4. Review the account mappings
5. Confirm and proceed

TinyTax recognises FreeAgent's standard account structure.

Common FreeAgent-TinyTax Issues

Corporation Tax Estimate

FreeAgent shows a corporation tax estimate in your accounts. This is:

• An estimate only (not filed)
• May differ from your actual liability
• Useful for planning but not authoritative

TinyTax calculates your actual corporation tax liability using current HMRC rules.

Depreciation vs Capital Allowances

FreeAgent calculates accounting depreciation, but:

• Depreciation is added back for tax purposes
• Capital allowances replace depreciation
• TinyTax handles this adjustment automatically

VAT Timing

If you're VAT registered:

• FreeAgent shows VAT-inclusive or exclusive depending on settings
• Ensure your trial balance matches your accounting treatment
• Box 145 should show net turnover (excluding VAT)

FreeAgent Account Mappings

FreeAgent Category	CT600 Treatment
Sales	Box 145 Turnover
Cost of Sales	Deducted from turnover
Overheads	Deductible expenses
Fixed Assets	Capital allowances
Bank/Cash	Balance sheet only
Trade Debtors	Balance sheet only
Trade Creditors	Balance sheet only

Limitations of FreeAgent Alone

FreeAgent doesn't:

• File CT600 returns to HMRC
• Generate iXBRL accounts for Companies House
• Calculate capital allowances for CT600
• Handle tax-specific adjustments

TinyTax provides these missing pieces.

Best Practice Workflow

Throughout the year:

• Keep FreeAgent up to date
• Reconcile bank accounts monthly
• Record expenses as they occur

At year end:

• Complete final reconciliation
• Review and adjust as needed
• Export trial balance

For CT600 filing:

• Import to TinyTax
• Review and adjust
• File to HMRC and Companies House

Filing Deadlines

Remember your deadlines:

• CT600 to HMRC: 12 months after period end
• Accounts to Companies House: 9 months after period end
• Corporation tax payment: 9 months and 1 day after period end

Key Takeaways

• FreeAgent handles bookkeeping but not CT600 filing
• Export your trial balance at year end
• TinyTax imports FreeAgent figures automatically
• Depreciation is replaced by capital allowances
• Always review the FreeAgent to CT600 mapping