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Does TaxCalc calculate Private Residence Relief on Capital Gains Tax?
TaxCalc doesn't calculate Private Residence Relief (PRR) on Capital Gains Tax. You will have to do this manually. You can use the HMRC helpsheet on PRR (from page 6) and the HMRC website to help you with these calculations. If you have any queries on Capital Gains Tax and PRR call the HMRC...
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25 Feb, 2015
Views: 3700
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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: 3602
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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: 3512
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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: 3469
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Which self employment form should I complete?
There are two versions of the Self Employment pages of the tax return – the short and the full form. The short form is a simplified version of the full form with fewer entry boxes. You must use the full form if any of the below statements are true: turnover is more than £85,000 (or would...
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09 Mar, 2023
Views: 3425
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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: 3419
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Capital Gains Tax refunds - how to receive a timely refund
Why does TaxCalc not provide information on Capital Gains Tax (CGT) paid? The reporting process for real time Capital Gains is something that software developers have not been given access to by HMRC so we cannot provide a link to this information via the Tax Return Production process in TaxCalc....
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08 Sep, 2022
Views: 3381
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How do I offset current year trading losses against other profits or chargeable gains on a CT600?
To offset current year trading losses against other profits or chargeable gains on a CT600, follow these steps: SimpleStep go to CT600 > Losses, Management expenses, NTLRDs and NTLIFAs > Trading Losses > Enter the amount in the box labelled Set against other profits or chargeable...
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20 Apr, 2023
Views: 3375
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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: 3361
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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 2023/24 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...
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25 Mar, 2025
Views: 3291
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How to claim EIS/SEIS/VCT Relief
When claiming relief under EIS, SEIS and VCTs, there are two types of relief available: Income tax relief Capital gains tax relief Depending on which you intend to claim, will depend on where the entries are required for disclosure on the return. If you intend to claim income tax relief,...
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25 Mar, 2025
Views: 3286
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Class 2 when Self Employment / Partnership ceased or started part way through the year
If the Lloyds / Self-Employment / Partnership started trading in the middle of the tax year or ceased trading part way through the tax year, please complete the applicable entries listed below. Using SimpleStep mode: Go to Working out your tax > Class 2 & Class 4 NICs maximum charge. ...
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07 Jun, 2023
Views: 3241
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How do I write off small pools in the Capital Allowances grid?
To write off small pools (with a balance of less than £1,000) and claim the allowance, first open the Capital Allowances grid. SimpleStep mode SA100 – Your Work > Self Employment > Short/Full Form – Details > Capital Allowances SA800 – Trades or professions for (XXX) >...
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17 Sep, 2024
Views: 3238
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How do I unlock my return?
Your return is locked if: all fields in TaxCalc are filled in yellow a no-entry symbol appears when you hover over the fields with your mouse you can't enter data into the fields. To unlock the return, follow these steps: Click on File from the top menu. Remove the tick next to Lock...
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02 Mar, 2018
Views: 3205
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Claiming Married Couples Allowance
Married Couples Allowance (MCA) is an age related allowance applicable if at least one spouse is born before 6th April 1935. It could reduce your tax bill by between £353 and £912.50 a year. You can claim Married Couple’s Allowance if all of the following criteria apply: you’re...
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28 Mar, 2022
Views: 3129
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