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Why can I see a hybrid rate for capital allowances?
HMRC will issue the rates available for each pool based on the full tax year. If you have a scenario where a tax return is covering a period other than a tax year, you will see the term Hybrid present on the Capital Allowance Calculation Grid. This is because the application will complete the pro...
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06 Mar, 2024
Views: 1086
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Changes to the CT600 form to include the new Northern Ireland supplementary pages.
As you may or may not know, HMRC have incorporated changes to the CT600 to cater for the Northern Ireland Assembly setting a Northern Ireland rate of Corporation Tax to apply to certain trading income. These changes were made in preparation for the rate of tax changing in April 2018. This...
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29 Mar, 2023
Views: 1059
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Useful information relating to the Dividend Database (2022-23)
Below is some useful information surrounding the data held within the Dividend Database for the 2022-23 tax year. If you are looking for information relating to the 2021-22 tax year, please review our article for Useful information relating to the Dividend Database (2021-22). For information...
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27 Jun, 2024
Views: 1055
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Statutory Residence Test changes relating to COVID-19
The Statutory Residency Test (SRT) is the legislation by which an individual’s UK tax resident status is established. There are a number of automatic tests applied, from which you are deemed to be either non-resident or UK resident or if none of the conditions have been met, a day test will apply...
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23 Jun, 2020
Views: 1014
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HMRC Exclusion 102 - chargeable event gain and beneficial ordering of the personal allowance
HMRC Filing Exclusion 102 will affect taxpayers who have a Chargeable Event Gain (CEG) with notional tax, in the higher rate band and dividend income. The personal allowance is being allocated against the CEG when it would be more beneficial to allocate it against the nil rate dividend income. ...
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07 Jun, 2023
Views: 1000
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Why are there no changes to the tax calculations once the Residence and Remittance pages have been complete?
The majority of the boxes presented on the Residence and Remittance pages are for HMRC's information only and therefore no calculations are updated. Usually you would only need to enter the taxable income on the tax return. If you have any non taxable earnings these should be declared in the boxes...
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07 Jun, 2023
Views: 997
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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: 995
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How to remove the HMRC API Fetch bar from the tax return?
From our update 13.7.148 onwards, you are now able to remove the HMRC API Fetch bar. This was preventing some users in entering information particularly if they had an large screen resolution. The below instructions will guide you through how to achieve this. Open a tax return and click on View...
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06 Sep, 2023
Views: 923
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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: 916
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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: 889
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How do I import data from Accounts Production into the UK Property Pages?
From version 13.0.045, the facility to import data from Accounts Production directly into the SA105 UK Property pages was made available. Please see the below instructions on how to complete the import process. SimpleStep mode: Browse to Other income > UK Property and Furnished Holiday...
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12 Oct, 2023
Views: 883
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MTD Quarterly Filer - How to submit data
Updates need to be sent to HMRC quarterly and by the deadline, to avoid penalties, but it is possible to send more frequently if this is preferred. Click Create New Update. From here the Import data screen is displayed where you can import, map and save data. If the data being imported is for...
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27 Jun, 2025
Views: 876
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HMRC Simple Assessments - why am I or my client receiving one?
From 2025, HMRC began issuing Simple Assessment letters, which provide detailed calculations for any tax owed by customers for income received in the tax year. Simple Assessment letters are sent to taxpayers who are not part of Self Assessment and who either do not have a PAYE tax code, or where...
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04 Mar, 2026
Views: 854
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I can't save my return to my file system
If you can't save a return from the database to your own file system, it's usually because there's an extra space or spaces at the end of the company name (either within Practice Manager or on the tax return). To remove the space(s), follow these steps: In Practice Manager, double-click on...
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17 Oct, 2019
Views: 797
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How do I create a CT600 for an earlier period?
You can create a CT600 return in Practice Manager or Tax Return Production. Make sure you're using the latest version of TaxCalc and follow the instructions below. Practice Manager Open Practice Manager. Right-click on the client. Select Open in Tax Return Production. Click on New Return. ...
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04 Apr, 2023
Views: 796
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