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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: 935
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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: 933
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How do I add/update my Filing Credentials?
You can enter and store your filing credentials in TaxCalc for different areas within the application. We have collated the information below so you can enter in the filing credentials for each relevant area. For Tax Return Production: Where do I enter Filing Credentials for Tax Return...
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20 Jul, 2023
Views: 922
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How do I switch to a summary breakdown of expenses on my SA800 partnership return?
You can only switch to a summary breakdown of expenses in your SA800 partnership return if turnover is below the threshold for declaring income on the Full Form. The business threshold for 2024-25 is £85,000. To switch to a summary breakdown you need to clear all entries made on the Full Form,...
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25 Mar, 2025
Views: 911
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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: 910
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Pension Lifetime Allowance changes from 1 April 2023
The lifetime allowance charge was abolished by Finance (No.2) Act 2023 s18 with effect from 6 April 2023, although other tax charges can apply in its place. Under Finance (No.2) Act 2023 s19, benefits that would have otherwise suffered a 55% lifetime allowance charge are instead treated as pension...
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24 Oct, 2024
Views: 893
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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: 884
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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: 870
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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: 869
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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: 840
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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: 799
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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: 765
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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: 718
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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: 712
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MTD for income tax - Agent journey for signing up clients with HMRC
If you have clients who will be required to report income under MTD for Income Tax from April 2026, you will need to sign up your clients with HMRC beforehand. It is possible to sign up clients now to help test the service and this will be necessary before using software, such as TaxCalc's MTD...
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19 Jun, 2025
Views: 700
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