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How do I add a new asset to the Capital Allowances grid?
To enter a new asset on the Capital Allowances grid, first go into the Capital Allowances wizard. SimpleStep mode SA100 – Your Work > Self Employment > Short/Full Form – Details > Capital Allowances SA800 – Trades or professions for (XXX) > Capital allowances for > CA...
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03 Aug, 2020
Views: 3352
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Error #5017 - Known Facts Check - Failed to match tax reference
‘SuRF’ (Suspected Repayment Fraud) Letters (FBI error 5017) Error 5017: Failed to match Tax Reference The individuals UTR for this tax return has been ‘blocked’ by HMRC. A repayment claim made in a previous tax year, has failed routine...
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05 Apr, 2022
Views: 3337
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TaxCalc bookkeeping spreadsheet transaction templates for MTD
To assist you with complying with digital links for MTD reporting, we have produced spreadsheet templates for recording transactions and summarising totals. The totals can then be imported by VAT Filer (for quarterly MTD VAT return submissions) and will be ready to use with Business Filer (for...
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29 Sep, 2022
Views: 3336
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How do I restrict the use of the losses carried forward?
You can't restrict the use of losses that have been carried forward from a previous year as they must be used against the first available profits. This means that you can't reduce the amount of the loss to use up the personal allowance first. HMRC states that the losses should be deducted from...
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25 Feb, 2015
Views: 3260
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How to use the annual pension allowance and contribution details wizard from 2023/24
When should I use the annual pension allowance wizard? If your total pension contributions are close to exceeding your annual pension allowance and/or your pension allowance is likely to be tapered, you can use the wizard to: Calculate excess contributions and possible pension tax charge Keep...
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21 Mar, 2024
Views: 3215
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Private Pensions, Lump Sums and 25% from drawn down pensions
Lump sum payments from a final salary pension are received free of tax and are not entered on the SA100 (individual tax) return. For any draw down payments that have a tax free element (25%), the taxable amount (75%) should be declared on the return as usual. If you are unsure where the pension...
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07 Jun, 2023
Views: 3192
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HMRC API - Available Tax Years
The HMRC API can be used with the following years. Note if a submission has already been made, this will not return any data 2022/23 2021/22 2020/21 2019/20 2018/19 2017/18 The following years are available but may NOT return relevant data as HMRC are currently conducting automatic...
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21 Mar, 2024
Views: 3131
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You must enter the Type of Capital Allowances / Purchase Date
If you receive either of these error messages when you click on Check & Finish, it means that there's an empty asset somewhere within the Capital Allowance wizard. To correct this you will need to go into the Capital Allowance wizard in SimpleStep mode and remove the empty asset. Further...
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28 Mar, 2022
Views: 3119
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Do I need to break down my self employment expenses?
How you report your self employment expenses depends on annual turnover. If turnover is £85,000 or more, you need to provide a breakdown of expenses. If turnover is less than £85,000 (or would be in a full year), you can report the net amount of allowable expenses as a single figure in the...
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29 Mar, 2022
Views: 3080
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How do I view, modify or import old CT600 returns? (Practice customers)
If you want to open a CT600 return made in an earlier version of TaxCalc, follow these steps: Go to Practice Manager. Click on Import Client Select the tax year you wish to import the file from click Continue Choose if you want to import a single return or multiple returns and Browse to...
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29 Mar, 2022
Views: 3052
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How do I move my tax return between two computers to file online? (Individual Users)
To move your tax return between two computers, it is recommended follow these steps: Complete your tax return and save it to a known location using File > Save. To find a tax return that you've already saved, go to My Returns, click on your name and make a note of the file location. Exit...
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27 Dec, 2019
Views: 3046
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How do I register for online filing to HMRC?
To register for online filing you'll need your: Unique Taxpayer Reference (UTR) – the 10-digit number that appears on any correspondence from HMRC. National Insurance number or postcode. If you don't have a UTR, complete the Registering for Self Assessment form. HMRC will then send you...
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24 Mar, 2022
Views: 3029
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How do I remove the watermark when printing a return?
If you want to remove a watermark from a tax return, you'll need to amend the printing preferences: Open the tax return. Click on Check and Finish. Click on Print or paper file return. Click on Next Step in the HMRC warning message (if applicable). Un-tick Would you like to add a watermark?...
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29 Mar, 2022
Views: 2960
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How do I pay tax due using my PAYE tax code
When can you pay tax owed through your PAYE code? You can pay your Self Assessment tax bill through your PAYE tax code, when all of the following apply: You owe less than £3,000 on your tax bill You already pay tax through PAYE, for example, you’re an employee or you get a company pension ...
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21 Mar, 2024
Views: 2907
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Super Deduction calculations when the period end straddles 1 April 2023
Claiming the super-deduction in a period that straddles 1 April 2023 The rate of the super-deduction will require apportioning if a CT period in which the qualifying expenditure occurs, straddles 1 April 2023. The rate should be apportioned based on days falling prior to 1 April 2023 over the...
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13 Sep, 2023
Views: 2875
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