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HMRC API - Service status & common messages
Below are some common questions, queries and answers regarding the HMRC API facility that can be found within TaxCalc: Who should complete the identity check during authorisation? The identity check should be completed by someone who is authorised to act for your firm. (Details asked include...
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30 Oct, 2018
Views: 3812
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Claiming rent a room relief and property allowance
HMRC have confirmed that an individual can claim the property allowance for one property and rent a room relief for another. If rent a room income is below £7,500*, this is very straightforward. In HMRC Forms mode, on page UKP1, tick box 4 (If you are claiming rent a room relief and your rents...
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24 Mar, 2020
Views: 3794
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Do I need to report nursery or child care vouchers?
You need to report nursery or child care vouchers if: you don't receive them under the salary sacrifice scheme and you receive more than £55 of vouchers. If you receive your nursery or child care vouchers in exchange for salary under the salary sacrifice scheme, you don't need to disclose...
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02 Mar, 2018
Views: 3745
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How do I make a claim for Enterprise Investment Scheme deferral relief?
Deferral Relief allows you treat the gain as not arising until some future date, if you acquire EIS shares with the proceeds of a disposal of an asset. To claim for Enterprise Investment Scheme (EIS) deferral relief on an Individual tax return, you need to enter details of the asset under...
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03 Aug, 2023
Views: 3726
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How to enter multiple trades on the CT600?
Unfortunately, you cannot enter multiple trades on the CT600. Instead you need to enter the combined figures into the computation to show the overall position and then attach a PDF computation for each trade to show the individual computations. This can be done in either SimpleStep or HMRC Forms...
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25 Oct, 2022
Views: 3690
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Where to enter Coronavirus Support Schemes on CT600s
This article will run through where to enter Coronavirus Support Schemes on a CT600. You can enter this information in one of two ways: SimpleStep mode: Coronavirus support schemes and overpayments > boxes 471 - 474 as required. HMRC Forms mode: CT600 Core > Core > Page 5 >...
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04 May, 2023
Views: 3628
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Where do I enter Special Withholding Tax on a CT600?
To enter Special Withholding Tax on a CT600, follow these instructions: CT600 (2015) Version 3 SimpleStep mode – CT600 Core > Reliefs and deductions in terms of tax > Double taxation relief. HMRC Forms mode – CT600 Core > Page 5 > Box 450. CT600 (2008) Version 2 PLEASE...
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29 Mar, 2017
Views: 3553
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Changing your UTR
Your Unique Tax Reference will usually stay with you for good once it has been assigned to you, as this identifies who you are on HMRCs records. There are however, some exceptions. If you are made bankrupt, then a new UTR will be assigned to you. This will come into use the year after your...
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22 Sep, 2017
Views: 3518
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Does TaxCalc calculate Private Residence Relief on Capital Gains Tax?
TaxCalc doesn't calculate Private Residence Relief (PRR) on Capital Gains Tax. You will have to do this manually. You can use the HMRC helpsheet on PRR (from page 6) and the HMRC website to help you with these calculations. If you have any queries on Capital Gains Tax and PRR call the HMRC...
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25 Feb, 2015
Views: 3511
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My P60 from employment is showing a negative tax deducted figure – where do I enter this?
In certain circumstances, your P60 may show a negative tax deducted figure. HMRC's online filing portal will only allow you to input this within the Employment pages if you have another employment in the year to offset the tax amount again. If you do have a second employment schedule, enter the...
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23 Aug, 2023
Views: 3443
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Entrepreneurs Relief changes from 11 March 2020
Entrepreneur’s Relief- disposals after 11 March 2020 What has changed? Whilst it was announced in the Budget 2020 that the lifetime allowance would be reduced from £10 million to £1million for disposals made on or after 11 March 2020, at the time of writing, there has been no legislative...
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24 May, 2023
Views: 3422
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How are software enhancements and issues prioritised at TaxCalc?
Every piece of software in every sphere will always have a list of outstanding enhancement requests and issues. We are fortunate that the list for TaxCalc is brief by industry standards and we are able to cover most things on a fairly short cycle due to our above average release frequency....
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07 Aug, 2019
Views: 3413
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Where do I enter overlap relief for self employment?
You can only claim overlap relief using the Full Self Employment pages. SimpleStep mode Click on Your Work. Select the Self Employment option. Click on Next step to continue to the Annualised turnover screen. Tick yes to the question Are any of the above true (or do you wish to complete the...
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27 Jul, 2020
Views: 3398
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How do I use excess pension contribution allowance carried forward from previous years?
TaxCalc automatically offsets your pension contribution allowance against your pension contributions for the current year. If contributions have been paid in excess of your annual pension allowance, you can utilise any unused allowance from the previous three years (starting with the oldest year)...
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21 Mar, 2024
Views: 3376
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How do I enter multiple share trading transactions I have from a broker?
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. When entering the information relating to Capital Gains Tax, there are 2 approaches you can...
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21 Mar, 2019
Views: 3353
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