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How do I claim foreign tax credit relief on my Capital Gains?
You can claim foreign tax credit relief on the Capital Gain entries on your tax return in SimpleStep or HMRC Forms mode. SimpleStep mode Go to Capital Gains Tax. Check that you've completed the required details on the Asset Details page. Go to Foreign Tax Credit relief. Complete the entries...
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21 Sep, 2015
Views: 1175
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How do I use the Annual pension allowance details wizard for defined benefit schemes
How do I use the Annual Pension Allowance details wizard for defined benefit schemes? Whilst our wizard refers to terminology for defined contribution pension schemes, it can be used to determine the annual allowance and any resulting pension tax charge for defined benefit schemes (also known as...
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21 Mar, 2024
Views: 1174
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1046 - I am trying to file a limited company tax return (CT600) for myself or friends and family
The best course of action is to attempt the below to verify your account setup and the UTR required for the submission. Step 1: Are you able to successfully log in to the HMRC government gateway portal? TaxCalc has the ability to import the entries for the HMRC User ID and password (if imported...
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29 Jun, 2021
Views: 1171
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Information about the Trading/Property allowance
Trading and Property allowance came into effect in the 2017/18 tax year. This effectively means that if your income (before expenses) is less than the £1,000 value, you will no longer have to declare or pay tax on this income. HMRC have published information on their website surrounding the tax...
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09 Mar, 2023
Views: 1169
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The company Registration number entered in the Accounts does not match the registration number on the CT600
If you receive this error message it means that either the downloaded file is corrupt or it contains special characters that HMRC can't read. Corrupt file If you opened the downloaded file and then used File > Save As, it might be corrupt. The correct way to save a downloaded file is to...
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31 Mar, 2017
Views: 1161
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How to import/restore tax return files when moving from the personal to practice interface?
Your tax returns are still present within your folder structure. The practice version of TaxCalc utilises a database to store your data instead of individual tax return files. You simply need to import your returns into the database. Locate your Tax return files. Before starting ensure you know...
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29 Mar, 2022
Views: 1154
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How do I calculate payments on account when there is Marriage Allowance?
HMRC are changing the calculation of payments on account when there is a Marriage Allowance transfer. Currently their SA110 notes suggest that payments on account should be calculated on the tax due amount, before applying the Marriage Allowance. The correct process is explained in the below...
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09 Mar, 2023
Views: 1153
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Dividend Database, useful information
The links to various articles below will assist in using the Dividend Database Dividend splits and reverse splits will change share holdings in a company. The ‘Useful Information’ articles below clarify how to address this in the dividend wizard. As well as containing other information for...
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27 Jun, 2024
Views: 1153
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How do I claim investments or shares in a Seed Enterprise Investment Scheme?
You can claim income tax relief on investments in a Seed Enterprise Investment Scheme in SimpleStep or HMRC Forms mode. Go to Tax reliefs and allowances > Relief on investments. Enter the amount in the box labelled Subscriptions for shares under the Seed Enterprise Investment Scheme. Go...
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06 Jun, 2023
Views: 1146
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Does TaxCalc cater for foreign residency or Dual Tax pages?
Yes, TaxCalc caters for foreign and dual residency pages. The residence and remittance pages have wizards which help you fill the criteria while calculating your tax, so you always know how much you need to pay or are owed. You can calculate your personal allowances by virtue of Double Taxation...
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29 Mar, 2022
Views: 1134
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How do I enter multiple entries for Capital Gains Tax on my SA900 return?
To enter multiple entries for Capital Gains Tax on your SA900 return, follow these steps: Go to Capital Gains > CG 1. Enter the figures for gains and losses. If you have different types of disposal, column AA, type Q,U,L,O you may need to split further. Add a further page if you have...
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23 Mar, 2021
Views: 1127
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HMRC Filing Exclusions and Special Cases 2019/20
HMRC Filing Exclusions 2019/20 Exclusions have arisen due to the previous introduction of additional allowances. Bands for certain types of income which has made the calculation of the tax liability more complex. HMRC systems expect our software to match their method of calculation in order for...
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20 Apr, 2023
Views: 1121
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1046 - I am trying to file a partnership tax return (SA800) for myself or friends and family
The best course of action is to attempt the below to verify your account setup and the UTR required for the submission. Step 1: Are you able to successfully log in to the HMRC government gateway portal? TaxCalc has the ability to import the entries for the HMRC User ID and password (if imported...
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29 Jun, 2021
Views: 1073
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How do I view, modify or import old CT600 returns? (Business users)
If you want to open a CT600 return made in an earlier version of TaxCalc, first try to open the file in TaxCalc using File > Open. TaxCalc 2007 To view a return prepared in TaxCalc 2007, check that you have the final release of the software (version 7.10.08): Go to Help > About...
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03 Aug, 2020
Views: 1063
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#3314 Inconsistent duplicate fact values (Bus: NameEntityAuditors) when filing my corporation tax (CT600) return
If you encounter the below error message, it means that there is a discrepancy in the information presented in the iXBRL tagging of the accounts for the Auditors name. If you are using the TaxCalc application to generate your financial statements, you will need to review the Auditors...
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08 Nov, 2021
Views: 1044
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