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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: 3604
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How do I complete a CT600 for a property company? (Business users)
To complete a CT600 for a property company, follow these steps: Open the CT600. Go to Company Type (SimpleStep mode) or Information (HMRC Forms mode). Tick the box labelled Should the company be taxed as a Property Business (formerly Schedule A)? Open the Tax Adjusted Profit/(Loss)...
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03 Aug, 2020
Views: 3601
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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: 3575
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How to complete the entries for notice of consent (CT600C) using V3 Form
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...
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12 Feb, 2021
Views: 3564
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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: 3469
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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: 3445
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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: 3418
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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: 3339
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Error message: Data does not match / HMRC failed data checks
When filing a 64-8 form online, you might see the following error message, stating that the data doesn't match. This usually means that your postcode or National Insurance Number doesn't match that held by HMRC. Before you can file the 64-8, you need to contact HMRC and ask them to update...
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17 Dec, 2015
Views: 3232
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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: 3212
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How do I restrict the use of the losses carried forward?
You can't restrict the use of losses that have been carried forward from a previous year as they must be used against the first available profits. This means that you can't reduce the amount of the loss to use up the personal allowance first. HMRC states that the losses should be deducted from...
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25 Feb, 2015
Views: 3194
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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: 3181
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How do I add a new asset to the Capital Allowances grid?
To enter a new asset on the Capital Allowances grid, first go into the Capital Allowances wizard. SimpleStep mode SA100 – Your Work > Self Employment > Short/Full Form – Details > Capital Allowances SA800 – Trades or professions for (XXX) > Capital allowances for > CA...
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03 Aug, 2020
Views: 3168
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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: 3149
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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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29 Mar, 2023
Views: 3137
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