|
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) >...
|
|
17 Sep, 2024
Views: 3825
|
|
|
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...
|
|
28 Mar, 2022
Views: 3789
|
|
|
How do I use the What If? Planner?
You can use the What If? Planner to forecast next year’s tax liability by following these steps: Open the SA100 tax return in question Go to Check & Finish. Click on What If? Planner Enter the income figures: Click on Use 2024/25 Values and use Add/Edit for each section to adjust...
|
|
25 Mar, 2025
Views: 3782
|
|
|
How do I claim relief for Research and Development from 1 April 2024?
For accounting periods starting on or after 1 April 2024, the merged R&D expenditure credit (RDEC) and enhanced R&D intensive support (ERIS) replace the old RDEC and small and medium-sized enterprise (SME) schemes. The two schemes and how to claim are explained below. Merged Research and...
|
|
04 Mar, 2026
Views: 3770
|
|
|
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...
|
|
25 Mar, 2025
Views: 3618
|
|
|
How do I use the demo database?
The demo database allows you to practise using TaxCalc on a separate standalone database and trial its features without having to enter lots of data. To use the demo database, follow these steps: Start up the trial product in TaxCalc. Click on Notifications in the top right-hand corner. ...
|
|
04 Jul, 2022
Views: 3510
|
|
|
How do I claim reinvestment relief for SEIS shares?
For comprehensive information on the Seed Enterprise Investment Scheme (SEIS), including when you can claim relief, read HMRC guidance: Seed Enterprise Investment Scheme – Income Tax and Capital Gains Tax reliefs. To claim reinvestment relief for SEIS shares you'll need to complete the claim...
|
|
07 Jun, 2023
Views: 3461
|
|
|
Posting a Tax Journal to Accounts Production
The Post Tax Journal page can be accessed by clicking Post Tax Journal on the Check and Review your Return screen within Check and Finish. This feature is present on the CT600 Version 3 onwards and can used to post a corporation tax charge or refund directly into Accounts Production based on the...
|
|
01 Nov, 2023
Views: 3329
|
|
|
What is the tax pool calculation in a Trust return (SA900)
What is a tax pool Tax pools apply to discretionary trusts. Discretionary trusts are taxed at the trust rates of income tax and the trustees are responsible for paying the income tax on income received by the trust. When trustees make a discretionary payment of income to beneficiaries, the...
|
|
07 Nov, 2023
Views: 3322
|
|
|
How much tax will I need to pay in January?
The information you provide within the SA302 calculation will determine how much tax is due. This calculation will then apply any tax already deducted and leave you with a balancing payment (if there's any tax outstanding) or a repayment due (if you've overpaid in tax). If your total tax bill is...
|
|
25 Mar, 2025
Views: 3218
|
|
|
Why can't I print PDF attachments?
TaxCalc can only print PDFs created using versions 1.4 to 1.7. To check the version of your PDF, complete the following steps: Open the PDF document. Click on File in the left-hand corner. Click on Properties. Check the version number in the pop-up window. If you can't print the PDF,...
|
|
17 Feb, 2021
Views: 3164
|
|
|
Full Expensing capital allowances available from 1 April 2023 until 31 March 2026
What are the new temporary capital allowances? From 1 April 2023 until 31 March 2026, companies, who are subject to corporation tax (CT), investing in qualifying, new plant and machinery assets will be able to claim: a 100% full expensing first year allowance (FYA) on qualifying plant and...
|
|
10 Jul, 2023
Views: 3126
|
|
|
Capital Gains Tax (CGT) on HMRC Forms
Please see the following instructions on how to complete the Capital Gains Tax (CGT) pages on HMRC Forms Go to Capital Gains > Do you want to complete the Capital Gains page? ‘Yes’ > Do you wish to use Forms Mode? ‘Yes’ HMRC Forms mode is a form filling exercise where you...
|
|
04 Apr, 2023
Views: 3085
|
|
|
Filing a CT600 for a non-resident company
From 6 April 2020, non-UK resident companies including those who invest in UK property through collective investment vehicles (CIV) will need to pay Corporation Tax instead of Income Tax on profits from UK property. This will require submission of an annual corporation tax return (CT600) and...
|
|
09 May, 2022
Views: 3073
|
|
|
MTD for Income Tax - Frequently Asked Questions
MTD for Income Tax - Frequently Asked Questions Q1) As an agent, what does MTD mean for my clients? Clients that are mandated for MTD will be required to: Maintain Digital Records (Bookkeeping Software/Spreadsheets) for each business at least quarterly Submit income & expenses...
|
|
20 Jun, 2025
Views: 3027
|
|
Cookie Settings