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What is a 1046 authentication error?
When you receive a 1046 error message in TaxCalc (as shown above), it means one of the following: HMRC hold different details to what has been input into TaxCalc prior to the submission attempt There is a block on your HMRC account. This can happen if you have attempted to file a number...
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26 Oct, 2023
Views: 127923
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Update to refunds made by HMRC
On 1st April 2015, HMRC updated their system to change the way they allocate repayments of overpaid tax. HMRC will only process the refund using the details entered in HMRC Forms: SA100 Core Return > Page 6 > boxes 4-14 SimpleStep: Other information > Bank Details If there had...
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14 Feb, 2023
Views: 101838
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Useful HMRC links and contact numbers
Personal Tax How to pay HMRC – Different ways to pay your Income Tax or Capital Gains Tax Online Services Helpdesk – Help signing up for online services or submission issues Tel: 0300 200 3600 (+44 161 930 8445 international) Registering for Self-Assessment – How and when you need to...
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28 Jun, 2017
Views: 84340
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How do I resubmit a return or file an amended return?
If, after making a successful submission, you need to make changes and file an amended return. Please see the video tutorial for a walk through of the process. Alternatively, please follow these written steps: Make your corrections. Click on Check & Finish. Check and review your...
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21 Mar, 2024
Views: 65286
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CT600 losses and how to carry them back
Carrying back company trading losses A company incurring a trading loss in an accounting period can make a claim to offset the loss against total profits of the previous 12 months after first having set the losses against any profits of the accounting period in which the loss occurred. The...
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21 Mar, 2024
Views: 64924
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Where do I declare redundancy or severance payments?
This article will complete an example scenario to best explain the process and entries required for the method of declaring redundancy and severance payments. In this scenario, the overall payment received as per the P60/P45 is £100,000, of which £75,000 is relating to redundancy. SimpleStep...
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29 Mar, 2022
Views: 45540
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How do I complete a tax return for someone who has died?
If you are completing a return for someone who has died, there are two alternative methods of completion depending on the actions that have been completed in communicating with HMRC. If you have advised HMRC of the death of the deceased and informed them that you will be acting as a personal...
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21 Mar, 2024
Views: 40905
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How do I import a return between non-consecutive years?
The TaxCalc import process currently only permits data to be imported from the previous tax year. For example, TaxCalc 2024 will only be able to import a 2023 tax return file. If for example, you didn't need to purchase TaxCalc 2023 but you do have a prior year file such as TaxCalc 2022, the...
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21 Mar, 2024
Views: 37942
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How do I reclaim tax paid on loans to participators that have been repaid?
If you’re a close company that’s previously paid tax on a loan to a participator, you may be able to reclaim that tax. Once the loan has been repaid, released or written off partially or in full, usually the tax can be either offset against current corporation tax liabilities or repaid...
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28 Mar, 2022
Views: 37438
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How do I send my tax return to TaxCalc?
In some cases when you have a query, the TaxCalc support team may need to look at the entries on your return. You can send the return by following these steps: Open the tax return. Click on Help in the top menu. Click on Send Return to TaxCalc. Complete your details for Your name, Your...
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19 Sep, 2018
Views: 36055
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What exchange rate shall I use to convert foreign income into British pounds?
HMRC provides a list of exchange rates to use if you need to convert income into British pounds for your tax return.
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17 Jun, 2016
Views: 35843
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How do I complete a return for a foster carer?
You need to take certain things into account when completing the return, for example, the qualifying amounts that you can deduct from total care receipts. Deductions from total care receipts (2024) include: £18,140 per household. a weekly amount for each cared for child or adult £375...
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21 Mar, 2024
Views: 34484
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Can I get an official HMRC SA302 summary from TaxCalc?
Unfortunately TaxCalc doesn't produce any documentation bearing the official HMRC logo. This includes summaries such as the SA302. Mortgage lenders are now accepting the SA302 summary produced by third party software or the tax year overview. HMRC have stopped sending paper SA302 tax summaries...
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23 Feb, 2022
Views: 32572
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How should I treat exempt distributions received from another company on a CT600 (previously called Franked Investment Income)?
Franked Investment Income (FII) is the former name for UK dividends that a limited company receives from another company. Depending on whether this income is detailed within the profit of your financial statements, there are two possible ways to list this information on the CT600 tax return....
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06 Sep, 2023
Views: 30630
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How do overlap profits/relief work?
Overlap profits can result when the year end date doesn’t line up with the tax year. If there is an overlap, this means that in the first two tax returns that you submit online to HMRC, you will pay tax twice on the overlap amount. The following example shows you how this works. In this...
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10 Mar, 2015
Views: 30380
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