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Self Assessment workflows with Practice Manager Plus
Using our new Practice Manager Plus advanced workflow allows you to create Jobs and Tasks to complete your Tax Returns efficiently, making sure you meet any statutory deadlines. Please see our video below on how Jobs and Tasks can help with Self Assessments for your practice:
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04 Apr, 2023
Views: 406
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Basis Period Transition when more than one accounting period (for TaxCalc versions prior to April 2024)
TaxCalc April 2024 update Please note that the April 2024 update of TaxCalc contains additional functionality for handling multiple accounting periods for the same Self Employment. For details of how to use the additional functionality, see this Knowledge base article. We recommend that you...
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01 May, 2024
Views: 404
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Importing director dividends from Accounts Production into the SA100
How can I import director dividends from the company accounts into a tax return (SA100)? Dividend information for directors' individual tax returns can be viewed and selected within the tax return, rather than searching for the amounts separately in Accounts Production. This functionality relies...
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14 Mar, 2023
Views: 400
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Accrued Income Scheme - entering negative losses
If you have received losses from the Accrued Income Scheme and deeply discounted securities, unfortunately, according to HMRC Exclusion 4 (see link to HMRC Filing Exclusions and Special Cases 2022/23), a negative amount cannot be entered into box 2 of the Lloyds Pages (LU1). Please note, this...
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20 Apr, 2023
Views: 392
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How is Top Slicing Relief calculated for 2018/19?
Top Slicing Relief hypothetically spreads a chargeable event gain (CEG), such as a gain on a life policy, over the years of the policy, such that the tax is payable as if the CEG had been received in equal amounts in every year. It’s not an exact calculation as it doesn’t match the income to...
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06 May, 2020
Views: 390
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Enterprise Investment Scheme tax relief clawback and how to inform HMRC
How to effect the clawback of income tax relief on the EIS investment sold within 3 years? You must notify HMRC of the event as soon as you can as the clawback of EIS relief is not made under self-assessment but by a special assessment., and so HMRC will need to calculate and send this to you in...
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03 Jan, 2023
Views: 390
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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...
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10 Jul, 2023
Views: 387
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Error: My R185 won't print
If you receive an error message when you try to print an R185 it means that the SA900 software hasn't ticked the R185 box. To fix this, carry out the following steps: On the Navigation menu click Form R185 to open the type selection page. Tick the box appropriate for your type of R185. ...
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03 Feb, 2015
Views: 362
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#5015 A submission for the user and tax year has already been successfully made.
When attempting to file a return online, you may sometimes encounter the below: In these instances, HMRC are rejecting the submission (currently being processed as an original submission) as their records show an original return already listed on file. In these instance, you would need to: ...
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14 Feb, 2023
Views: 350
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Why does my text in the 'Any other information' box keep disappearing?
If you enter text in the Any other information box and it disappears, this means that TaxCalc hasn't automatically saved it. TaxCalc automatically saves data every two minutes. However, for TaxCalc to register that you've made a change you need to click outside the box after you've entered text....
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03 Aug, 2020
Views: 340
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How to use the joint property income calculator
The joint property income calculator is available in SimpleStep mode within the UK Property and Furnished Holiday lettings in the EEA pages, accessible from each property record created. Unlike the joint income importing functionality which assumes a 50% split, the calculator allows for the...
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12 Oct, 2023
Views: 328
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Error 3304: Original return already received for this period.
When filing a CT600 return online to HMRC, you may receive the below error: HMRC have rejected the return on the basis that they have an original return already held on file against this company UTR. The only way you would be able to proceed with the online submission currently would be to...
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14 Feb, 2023
Views: 327
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What penalty will I pay if I miss the filing deadline?
The online filing deadline is 31 January. Registration can take between 7 and 10 days, so make sure you register early to allow yourself plenty of time to file. If you file your return after the deadline, HMRC will charge you a £100 penalty. You’ll have to pay this even if: your return is...
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19 Feb, 2024
Views: 315
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How to complete the entries for notice of consent (CT600C) using V2 Form
This article relates to V2 form of 2006 version of CT600. For the version 3 form, please see the link to 'How to complete the entries of consent V3 2015 form'. If you are completing the group and consortium pages to either claim or surrender losses for group relief, you may have to add a notice...
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07 Jun, 2023
Views: 297
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Where to enter Disguised Remuneration?
What is Disguised Remuneration? Disguised remuneration schemes are the arrangements that pay loans instead of ordinary income, to avoid Income Tax and National Insurance contributions. Disguised remuneration can be described as earned income received via a scheme as a loan or some other...
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13 Mar, 2024
Views: 296
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