Unfortunately there is no facility to recover CIS tax through the CT600. CIS tax is an employment tax deducted from a limited company's gross income and therefore forms part of the PAYE system. The amount of CIS paid is entered in the Employment Payment Summary (EPS) and is deducted from the...

HMRC has provided a method of sending information relevant to the completion of a Tax Return called Application Program Interfaces or APIs. This is the first part of their overall Digital transformation project known as Making Tax Digital. This allows TaxCalc to request information held by HMRC...

Duplicate property pages may be created if you've imported a return from last year and: you used the joint import to import income from another individual tax return which contains income from the same property. ​you have manually entered details with the same property name. You can...

Basis Period Entries in TaxCalc (transitional year 2023/24) This article explains the entries to make for the 2023/24 transitional year. HMRC's business manual explains the rules, if you need to familiarise yourself before starting your entries in TaxCalc. You can either enter the adjustments...

When you successfully file a return using TaxCalc, you'll get the following receipt. This contains the IR Mark (top left) and is your proof of filing. You can print this receipt for your records or save it as a PDF. To do this, click on Print this FBI receipt. NOTE: You'll also receive...

CT600C Group and Consortium This article covers the V3 form of CT600 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 of consent form, if there is no simplified arrangement in place. Simplified...

Changes to Class 2 NIC thresholds For tax years 2022/23 and 2023/24, you needed to pay Class 2 NIC if your profits were above the Lower Profits Limit. For 2025/26 onwards, if your profits are above the Small Profits Threshold (£6,845) Class 2 contributions are treated as having been paid to...

As per the HMRC guidance here (on page PTRG 26), “For tax purposes the allocation of profit (or loss) between partners must result in a straight apportionment of the actual profit (or loss) made by the partnership. If the initial allocation using the commercial profit sharing arrangement for all...

The What If planner and Dividend Database are add on modules to your existing tax packages. Each year, the software is updated in June to contain the updated details required. Between April and June, TaxCalc are in communication with HMRC and are finalising the information that we have before...

If you're completing a partnership return, you can import the data into the SA104 pages in the individual return by following these steps: Open up the individual return. Go to: SimpleStep Mode: Your Work > Partnership Management HMRC...

Depending on whether you are looking to import a single tax return file or multiple tax return files, the instructions will vary. Below are 2 videos, the first for importing multiple tax returns and the second for single file. Video 1 - Multiple tax return files Video 2 - Single tax return...

To complete a CT600 for a property company, follow these steps: Open the client in Practice Manager. Go to Company Information. Tick Company is a Property Business (formerly schedule A taxation). Create or open the CT600. Go to Company Type (SimpleStep mode) or Information (HMRC Forms...

You may be able to claim personal allowances as a non-resident. If you are allowed to do this, you can input the details using SimpleStep or HMRC Forms as instructed below. SimpleStep mode Browse to Residence and Remittance Tick the box for Personal allowances under a Double Taxation...

Lump sum payments from a final salary pension are received free of tax and are not entered on the SA100 (individual tax) return. For any draw down payments that have a tax free element (25%), the taxable amount (75%) should be declared on the return as usual. If you are unsure where the pension...

Unfortunately TaxCalc cannot deal with transactions where you have purchased shares at different prices at different times (including the 30 days, bed and breakfast etc.) also known as Section 104 holding. This means that you will need to complete the Capital Gains Tax section in HMRC Forms mode...