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Can I produce tax returns, computations and accounts in TaxCalc?

Article ID: 1184
Last updated: 17 Oct, 2019

You can use TaxCalc Accounts Production to produce accounts, but not tax returns or computations. To produce Tax Returns and Computations you need to use TaxCalc Tax Return Production. Below is a breakdown of the functionality offered to see if the products cater for your requirements.

TaxCalc Accounts Production -  is the simplest and most complete way to meet your clients' accounts preparation needs. 

TaxCalc Accounts Production caters for Sole Trader and Partnership accounts and features a wide variety of formats for your Limited Liability Partnership and Limited Company clients.

TaxCalc Accounts Production is complete with features that are designed to help you run your practice:

  • Compliance and Filing
  • Supporting Schedules
  • Chart of Accounts
  • Exporting Accounts 
  • Presentation of Financial Statements
  • Posting Transactions

Client Types and Formats Supported:

Sole Trader:

  • Full accounts
  • Income and expenditure statement

Partnership:

  • Full accounts
  • Income and expenditure statement

Limited Liability Partnership (LLP):

  • FRSSE 2008, 2015, SORP 2015
  • Abbreviated accounts
  • Audited and unaudited accounts
  • Dormant accounts

Limited Company:

  • FRSSE 2008, 2015
  • FRS102 section 1A for small companies‚Ć
  • FRS 105 for Micro Entities
  • Micro format
  • Abbreviated accounts
  • Audited and unaudited accounts
  • Dormant accounts
  • Company limited by guarantee

TaxCalc Tax Production -  is the simplest and most complete way to control, execute and file your clients' tax return online.

The software is built around the fast completion of tax returns, be it with the direct HMRC Forms mode, or with our unique and innovative SimpleStep mode.

Workflow is controlled through TaxCalc Practice Manager, a suite of powerful practice management tools that tracks deadlines, assigns work and following progress through to submission to HMRC.

TaxCalc Tax Return Production is used in the preparation and filing of:

SA100 Individual and SA800 Partnership Returns:

  • Integrates with other TaxCalc software products, saving you time and avoiding rekeying errors
  • Create and file tax returns for years since 2011-2012 (earlier years available upon request
  • All SA100 supplementary pages including Non-Residence, Lloyd's, Trusts and Ministers of Religion.   
  • All SA800 supplementary pages including Foreign Income and Disposal of Chargeable Assets

SA900 Trust Returns:

  • Integration between R185s and R40 Forms
  • Export R185 values into SA100 Individual tax returns
  • All supplementary pages provided
  • Returns include R185
  • Bring forward data from earlier years
  • Compare last year's tax data with the current return

CT600 Corporation Tax Returns:

  • Prepare Corporation Tax returns going back as far as 2007
  • Import accounts data directly from TaxCalc Accounts Production with automatic time apportionment for long periods of account
  • Reports on due dates of tax payments within the computation
  • Produce Corporation Tax computations in iXBRL format with absolutely no manual tagging
  • Produce comprehensive Corporation Tax computations with cover and contents pages and format notes using rich text elements
  • Property company computations
  • Client approval page
  • Compare last year's tax data with the current return

All Returns:

  • Export reports to PDF, Microsoft Word and Microsoft Excel
  • Detailed calculations and repayment summaries
  • Auto-save function 
  • Context-sensitive help
  • Full HMRC forms and tax guidance help manual
  • Anonymous "send return to TaxCalc" function to get help from our Support team
  • Password protection of your clients' returns 
  • Check and Finish routine to validate entries within the tax returns and to confirm the availability of the HMRC online filing service
Article ID: 1184
Last updated: 17 Oct, 2019
Revision: 24
Views: 1690
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