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...

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...

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...

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...

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...

HMRC provides a list of exchange rates to use if you need to convert income into British pounds for your tax return.

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...

Carrying back 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 Budget 2021...

If you can't access a copy of the previous year’s tax return prepared in TaxCalc but do have a copy of a return from an earlier year, you may wish to bring this forward to the current year to retain personal information, basic entries and HMRC filing credentials. You can only directly import a...

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...

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...

To register for online filing as an agent with HMRC you'll need an Agent Reference Number. Apply to your local tax office or apply online via the HMRC Online Services if you're overseas. Once you've received your Agent Reference Number, follow these steps: Go to the New user page on the HMRC...

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...

Franked Investment Income (FII) is the name for UK dividends that a limited company receives from another company. To record FII on a CT600: SimpleStep CT600 Core > Trade and Professional income > Tax adjusted profit/(loss) worksheet – disallowable expenditure > proceed with steps...

The general rule when working out a reduction in personal allowance is that if your income is greater than £100,000, your allowance will be reduced by £1 for every £2 over £100,000. For example, if your income is £110,000, your personal allowance will be reduced by £5,000. The £100,000...