TaxCalc Release Notes 2024

Below are the Release Notes for TaxCalc 2024 releases. Click to see the Release Notes for 2013-2016 > 2017 > 2018 > 2019 > 2020 > 2021 > 2022 > 2023

TaxCalc Product Update - version 15.0.500 - Released on 25th July 2024

Please note: 

• For Customers who have not already updated to Version 15, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

• This release may result in a change to the IR Mark on any existing V3 CT600 returns.

• To install this version of TaxCalc on Microsoft Windows machines it must be on Windows 8.1 or above. See our full list of System Requirements for more information on all supported operating systems with TaxCalc.

Product summary

• General

• Accounts Production

• AML Centre

• Tax Return Production

• Communications Centre

General

• Corrected an issue preventing access to the application on start up for some Mac users, when externally saved tax return files have been moved or deleted.

Accounts Production

• Strategic and Director’s reports will now correctly include the signature section when the option to include Strategic/Director’s report within the full financial statements is ticked.

• The financial statements will now correctly exclude the Partner’s Capital Accounts note, when the note has been turned off in Edit Notes.

• Rounding adjustments will no longer be made to the dividends amount where there would be a rounding discrepancy in the profit and loss brought forward and carried forward amounts.

AML Centre

• Customisations of the Client Risk Assessment in AML Centre will now be saved correctly.

Tax Return Production

• Corporation Tax computations will now show the correct payment due date for Corporation Tax returns with periods ending 31 December.

Communications Centre

• Corrected an issue in Communications Centre that prevented some Mac users sending emails using Microsoft.

TaxCalc Product Update - version 15.0.400 - Released on 8th July 2024

Please note: 

• For Customers who have not already updated to Version 15, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

• This release may result in a change to the IR Mark on any existing V3 CT600 returns.

• To install this version of TaxCalc on Microsoft Windows machines it must be on Windows 8.1 or above. See our full list of System Requirements for more information on all supported operating systems with TaxCalc.

Product summary

• General

• Practice Manager

• Accounts Production

General

• The data mining updater (background process) no longer requires passwords for password protected tax returns and will run silently. Any password protected tax return will not be included within data mining.

• Corrected an application crash on start up, when parsing historic tax returns where referenced accounting periods have since been deleted

Practice Manager

• Prevented data mining from presenting clients with encrypted corporation tax returns.

• Report manager: Fixed shipped Self Assessment status reports that were not showing clients (new installation issue only).

Accounts Production

• Check & Finish will correctly display the errors related to financial statements when clicking on the Check & Finish button in the full or registrar financial statements.

TaxCalc Product Update - version 15.0.310 - Released on 27th June 2024

Please note: 

• For Customers who have not already updated to Version 15, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

• This release may result in a change to the IR Mark on any existing V3 CT600 returns.

• Due to changes within this release to support data mining and reporting, customers with large databases may experience a slight delay in being able to use the new data items immediately after upgrade.

• To install this version of TaxCalc on Microsoft Windows machines it must be on Windows 8.1 or above. See our full list of System Requirements for more information on all supported operating systems with TaxCalc.

Product summary

• Tax Return Production

• Accounts Production

• Practice Manager

• Practice Manager Plus/WorkFlow

• Companies House Forms

• Company Incorporator

• AML Centre

• Communications Centre

• eSign Centre

• VAT Filer

Tax Return Production

SA100 Individual Tax Return

• WhatIf Planner is now available for 2024/25 tax year:

  • Updated the data entry box relating to ‘redundancy’, to clarify only taxable amounts should be entered.

  • Now includes data entry for transition profits.

  • Fixed an issue in the calculation of Student loan repayments where net pension contributions have been made.

  • Updated calculations to include potential restrictions for finance costs.

• The dividend database for 2023/24 is now available.

• Updated the wording in the CGT section to advise that losses brought forward from the previous year will trigger a tick on the CGT page screen (CGT pages will not be included in these circumstances).

• Fixed an issue relating to balancing allowances being incorrectly calculated for self-employed businesses when the business hasn’t ceased trading.

• Updated functionality so that furnished holiday let losses brought forward are automatically offset against profits arising.

• Added the ability to delete entries on the HS302 and HS304 wizards.

• Added Check & Finish validation messages relating to the receipt and transfer of marriage allowance.

• Provided up-to-date information regarding boxes 34, 35 and 36 on the foreign pages (no longer required to be completed).

• Updated joint import functionality to ensure that only 50% of a dividend value is imported from the original tax return, where relevant.

• Ensured that box 21 (Tax deducted at source) is available for use when the only rental income relates to furnished holiday lettings.

• Created a new validation to check whether an adjustment in box 51 is required when clogged losses have been utilised against profits.

• Locked the electric mileage range box in company car wizard when Co2 emissions are above 50.

• Updated Double Taxation Agreement data to include Kosovo.

• Minor text change relating to unpaid director and office holders.

• Updated SA110 notes following an update from HMRC.

• Updated calculation of UK relevant earnings for pension contributions to include some employment lump sums.

• Updated the calculation for Class 2 National Insurance to take into consideration transition profits.

• Updated HS300 calculation for box 15a for transition profits following updates from HMRC.

• Provided information messaging relating to the increase in the VAT registration threshold.

• Fixed an incorrect Check & Finish warning message being shown when short self employment pages in forms mode were used.

• Updated auto-population logic for FSE67 (basis period end date) to ensure it isn’t populated when accounting period is standard.

• Provided more information to assist partners in a partnership with multiple account periods.

• Fixed an issue where the Class 4 NIC exempt box wasn’t always being ticked when appropriate.

Individual Summaries

• Tax Payment/Repayment Summary:

  • Updated summary so that payments due on 31 July and not paid, are shown as ‘outstanding’ when 31 July has passed.

  • Fixed a display issue relating to amounts to be coded out when only partial payments have been made on account.

  • Fixed a formatting issue when only the payment due on 31 January hasn’t been paid.

• Memorandum Report now includes CGT losses carried forward and a transition profits summary.

• Employment ‘Total’ Summary has been improved so that it now shows the details of each employment and how the total has been calculated.

• Partnership Summary had an issue resolved relating to the calculation of total tax deducted.

• The Data Entered Summary had a wording issue relating to capital gains tax, box 35.

Form R40

• Updated the Married Couples Allowance section so that the full name is entered on the form.

• Updated the wording for box 10.5.

CT600 Corporation Tax Return

• Corporation Tax Taxonomy Update for 2024.

• New data entry for Audio-Visual and Video Games Expenditure Credits (AVEC / VGEC).

• New data entry for Enhanced Research and Development Intensive Scheme (ERIS).

• Added data entry for a tax profit adjustment for RDEC, AVEC and VGEC.

• Updated functionality and validation messages when RDEC pages are removed to reduce possibility of filing errors.

• Updated calculation for enhanced expenditure in box 660 when a loss to surrender is claimed for pre and post April 2023 rates.

• Updated rounding in calculation for RDEC notional tax box L55 to ensure successful filing.

• Updated population and calculation of RDEC Step 2 calculation to ensure it’s only completed when relevant.

• Updated Check & Finish message relating to boxes 655 and 657 (large company claiming RDEC and additional information).

• Updated payment due date on corporation tax computation for February period ends.

• Removed Check & Finish message relating to theatre tax rates as this has been superseded by more appropriate messaging.

• Fixed a rounding issue which could sometimes occur when the corporation tax period spans two financial years where marginal relief is relevant.

• Updated help link for box 625.

• Updated form CT600 Version 3 (2024) following a minor text change made by HMRC.

• Fixed marginal relief calculations on tax computation and in the wizard summary, where they were not displaying after locking and closing the return.

• Fixed an issue with marginal relief not updating when the number of associated companies is changed in box 326, if boxes 327 and 328 were previously populated.

• Updated Check & Finish messages relating to freeport and investment zones following extension of relief.

• Updated Check & Finish messaging to check for Check & Finish in Accounts Production when group accounts have been attached to the corporation tax return.

SA800 Partnership Tax Return

• Improved the partnership details screen:

  • Ability to create partnership pages for all partners at once.

  • Ability to search.

  • Ability to filter.

• Fixed an issue relating to balancing allowances being incorrectly calculated for partnership businesses when business hasn’t ceased trading.

• Fixed an issue where an entry in box 1.27 (non-residential costs) was also populating box 1.40 (residential costs).

• Updated the footer on form SA801.

General Maintenance

• Fixed a number of navigation issues when switching between Forms and SimpleStep modes.

Accounts Production

• Limited companies and LLPs include a new checkbox at admin level to allow for the customisation of the default settings for the debtors and creditors note relating to whether or not to display the breakdown of debtors and creditors.

• Limited companies and LLPs have been updated to apply the FRS 2024 taxonomy.

• Companies House have updated the format of the presenter ID, so we have updated the entry of the presenter ID to allow for alphanumeric values rather than just digits.

General Maintenance

• Resolved an issue where in some scenarios, synchronizing Companies House data to update local data via the Companies House sync wizard resulted in officers being duplicated multiple times.

• An option has been added to re-poll for statutes from Companies House for online filing submissions which have not yet been accepted.

• Statement of Cash Flows will be omitted from registrar financial statements for companies and LLPs applying FRS102 1A with full disclosures.

• The Check & Finish message relating to the Balance Sheet not balancing when the user has selected Income and Expenditure account for sole trader/partnership has been removed, as the messaging is not relevant.

• The Intangible asset note will display net book value rows if the value at the end of the year is nil, where previously the note omitted the net book value section.

• The Intangible asset note will be included in the financial statements and populated to display dashes, where previously in specific scenarios the note was omitted if the asset had been fully disposed during the year.

• Full financial statements for FRS 102 1A will no longer omit the Strategic report, where previously it was omitted if the MLA102 licence had expired.

• Statement of cash flows is no longer included within the registrar financial statements for accounts prepared under FRS 102 1A with full disclosures.

Group Accounts

• Lead schedules have been added for groups when in group mode. The group version of the lead schedules will include amounts for both the company and group.

• Jobs with the automation items 'the work item is sent for signing' or ‘the work item is signed’ will be triggered when group Full and/or Registrar Financial Statements or the individual parent company Full and/or Registrar Financial Statements are attached to an eSign envelope and the envelope has been successfully sent for signing or signed.

Group Accounts General Maintenance

• Adding a trial for group accounts will now allow the Accounts Production users to continue using the full licence.

• Resolved an issue where the group trial balance did not pick up data from indirect subsidiaries that were included in the consolidation (a subsidiary that is directly owned by another subsidiary of the parent rather than being directly owned by the parent).

• The Company profit and loss note in the group mode will now display the company’s profit/loss for current and comparative year, where previously the “[FRS102_Profit_For_Period][ComparativeYear_ProfitForPeriod_Info]” token displayed consolidated profit/loss.

• Group financial statements will no longer display blank columns/line items when there are no values to display, where previously they were displayed with a nil value after being eliminated on consolidation.

• Group posting will now be enabled for previous accounting period, where previously in specific scenarios, group posting was locked out if the option to prepare group accounts was selected before unlocking the accounting period.

• The following online filling errors have been resolved and will no longer stop filing to HMRC:

  • 9999 - the value of attribute width on element ‘col’ is not valid with respect to its type ‘MultiLength’

  • 9999 - cvc:datatype:1,2,3 is not a valid value of union type ‘MultiLength’

Practice Manager

• Data Mining:

  • Data mining has been enhanced to include Annual Accounts calculations, allowing for filtering based on both ‘Latest’ and ‘All’ periods.

  • Additional CT calculations have been added to data mining, allowing for filtering based on both ‘Latest’ and ‘All’ periods.

  • Filter values have been updated for UYE and Date conditions, to allow mining on values that are: Empty, Not empty and Not equal to.

• Report Manager:

  • Client reports include options for Annual Accounts and tax calculations columns. In addition a period filter has been provided to allow results to be targeted at specific periods.

  • Work Status Reports include improvements to the period filter to allow results to be targeted at specific periods.

• Other:

  • Multi-office functionality is now available to all users. Options include setting an office against a client record and using office-specific credentials for submissions.

  • Multi-dashboard functionality is now available to all users. Options include creating multiple dashboards and setting a dashboard as private or public.

  • The Client Summary page has been updated to show current relationships only (no longer includes historical/ceased relationships).

  • The VAT threshold has been increased to 90k in 'Client Above VAT Threshold' dashboard widget and reports.

General Maintenance

• Password protection has been added to the ‘Open work’ option from ‘Jobs/tasks assigned to me’ widgets.

• Work Manager & Active Work: Activity type filter now includes only jobs/tasks related activities.

• Create services report for specific service now generated correctly in all situations.

• MTD VAT jobs and tasks will create next period automatically on recurrence, regardless of "Enrolled for MTD" selection on Client Record.

Practice Manager Plus/WorkFlow

• Practice Manager Plus has been rebranded to be named WorkFlow across the system.

• Admin Centre > Customise WorkFlow has been streamlined to include WorkFlow related settings only. Note: You can still access all Practice Manager settings from "Customise Practice Manager" page as before.

Companies House Forms

• The following Companies House forms have been updated as a result of increases to Companies House fees, taking affect from 1 May 2024. In addition to the fees increase, the new forms contain updated guidance and the signature section being replaced with authorisation.
  NM01 - Change a company name
  NM02 - Give notice of a conditional change of name
  NM03 - Notice confirming satisfaction of the conditional resolution for change of name
  NM04 - Notice of change of name by means provided for in the articles
  CS01 - Confirmation Statement

Company Incorporator

• IN01 (application to register a company) and LLIN01 (application for the incorporation of a Limited Liability Partnership (LLP) forms have been updated as a result of increases to Companies House fees, taking affect from 1 May 2024.

General Maintenance

• The Director’s service address section has been updated to state ‘Same as registered office’ when the service address has been marked as ‘same as registered office address’.

• Resolved a formatting issues so the month and year of birth is printed correctly when printing the incorporation form.

AML Centre

• A new option has been added to bring forward details from the previous Identification and Risk Assessment when creating a new stage for Identification or Risk Assessment for users to review and update as required, rather than creating the stage from scratch.

• The risk assessment report has been updated to include answers to the questions in the risk profile section of the risk assessment.

• An option to comment on reasons for revising the risk on an overall risk assessment has been included for audit trail purposes.

• Client due diligence: The risk rating for the transaction question 4 ' ‘If yes, are those transactions consistent with your knowledge of the clients, the client’s business and risk profile?’ has now been updated in accordance with the risk rating guidance, where previously it would result in a lower risk rating when answered as “Yes”.

Communications Centre

• It is now possible to bulk cancel messages in the pending queue within Message Activity.

General Maintenance

• Mail merge tokens for CT figure and date payable no longer show 'Not available' when a 64-8 form has been requested.

eSign Centre

General Maintenance

• When changing the Company Name within Admin Centre > Customise eSign Centre > Envelope Credentials, subsequent envelopes sent will reflect the change in all situations.

• It is now possible to add ad-hoc contact relationships as a recipient via 'Add/Manage Relationships'.

• HMRC Form 64-8 (version 03/22) is available within Manage Documents > Add TaxCalc Documents.

VAT Filer

• A Check & Finish validation is now displayed if a negative amount for input or output VAT is entered to avoid filing by mistake.

• The ability to print the Payment and Liabilities in VAT account has now been included.

TaxCalc Product Update - version 14.6.300 - Released on 1st May 2024

Please note: 

• For Customers who have not already updated to Version 14, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

• This release may result in a change to the IR Mark on any existing V3 CT600 returns.

Product summary

• Accounts Production

• Company Incorporator

• Practice Manager

• Communications Centre

• Tax Return Production

Accounts Production

Accounts Production – Group Accounts add-on

The Group Accounts add-on allows you to prepare group accounts for limited companies in accordance with FRS 102 or FRS 102 1A.

The following functionality will be available for group accounts:

• Seamless switching between the company and group.

• Group structure management to set up the group structure, select the subsidiaries to be consolidated and see any warnings for any of the group members.

• Group trial balance, including the group adjustments, parent and subsidiary values.

• Group reports containing all the required group and company disclosures, with the following additional group specific disclosures:

  • Company Profit & Loss Account note on the balance sheet.

  • Accounting policies – Basis of Consolidation and Business Combinations.

  • Business Combinations note.

  • Non-controlling interests note.

• Additional accounts have been added in the chart of accounts:

  • Profit and Loss – Profit/loss attributable to non-controlling interest (account 3950).

  • Capital and reserves – Acquisition and disposal of shares in subsidiary from/to non-controlling interest (accounts 8070/8071).

  • Non-controlling interest – (accounts 8100/8181).

• Advanced drill down across the nominal ledger and financial statements to drill down from the figures to the originating entry from whichever group entry the postings originate from.

General Maintenance

• Resolved an issue where, when the accounts were abridged in the previous year/period, the gross profit comparative figure displayed in the current year/period incorrectly and included other operating income.

• User-entered text in the provision for liabilities note will now be saved correctly.

• Resolved a issue where in a specific scenario the officers couldn’t be refreshed after re-appointment.

• The director signing/approving the financial statements drop down list in Edit Notes will now display all the applicable directors, where previously in specific scenarios they were not all being displayed.

• The directors signing the financial statements selection will now save correctly in Edit Notes, where previously this was not being saved in specific scenarios.

• The trial balance will now show the correct totals and profit and loss value on the multiple year trial balance report, where previously the names of people option was set differently across the years selected to be displayed on the report.

• The current asset investment note has been updated to display a double underline when there is only one line item to display.

• The ‘Next step’ button in Edit notes has been relocated to the right of the existing ‘Previous step’ button.

• The following online filling errors have been resolved and will no longer stop the filing to HMRC:
  9999 - fatal:cvc-complex-type: the content of element 'ui' is not complete. One of '{ http://www.w3.org/1999/xhtml''}' is expected.
  9999 - fatal:cvc-complex-type: the content of element 'ui' is not complete, when secured creditors note is included without data entries.

 Company Incorporator

• Section A4 of the IN01 (application to register a company) has been updated to display the appropriate company type on the printed copy of the form.

Practice Manager

• When setting the Work Status for 2024 Tax Returns, the default will appear for all clients.

Communications Centre

• Added an option within the Microsoft Email authorisation journey to use the default browser instead of the TaxCalc browser. In some cases, users were unable to complete the authorisation within the TaxCalc browser itself.

• Fixed an issue relating to mailbox signatures that include images. When using the Microsoft Email mailbox type, images within the signature itself were not appearing in the sent emails.

Tax Return Production

SA100 Individual Tax Returns

• Enhanced the user journey for self-employed businesses that have multiple account periods falling in the 2023/24 tax year.

  • Further enhanced the messaging and validations for Individual Tax Returns for self employment and partnership income, where basis period transition rules apply.

• Fixed an issue relating to the calculation of tax for a non-resident individual with transition profits from self employment or partnership Income.

• Updated the SA302 for Individual Tax Returns to show the correct amount for ‘income tax charge’ on gift aid payments (overall calculation was correct).

• Updated the 2024 HS325 Lump Sums Worksheet.

• Updated the wording on dividend screens to remove reference to previous share splits.

• Fixed a rare issue where newly created clients were not shown in the joint import client picker in Individual Tax Returns.

SA800 Partnership Tax Returns

• Included HMRC Specials & Exclusions for 2024 (update to messaging).

• Updated the Partnership Business Summary to display Structure and Buildings Allowance claims as deductible amounts (now shown in brackets).

SA900 Trust Tax Returns

• Included HMRC Specials & Exclusions for 2023/24 Tax Year for Trust Tax Returns.

• Updated the automated value for capital gains tax annual exemption for 2023/24 Trust Tax Returns.

• Updated the trade and partnership calculations for 2023/24 Trust Tax Returns where transition losses have arisen.

CT600 Corporation Tax Returns

• Ensured that the correct rate of tax is being applied to Corporation Tax Returns for company type '9' – Real Estate Investment Trust C.

• Updated the logic for boxes 326, 327 and 328, to ensure that these boxes can be completed when necessary and validations are only shown where relevant.

• Updated the capital allowance calculations for super deduction disposals, to ensure the full super deduction claims that were proportionately reduced are correctly identified.

• Users may now choose whether to attach group or company accounts to a CT600.

TaxCalc Product Update - version 14.5.601 - Released on 27th March 2024

Please note: 

• For Customers who have not already updated to Version 14, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

• This release may result in a change to the IR Mark on any existing V3 CT600 returns.

Product Summary

• Communications Centre

• Companies House Forms

• Accounts Production

Communications Centre

• ACTION REQUIRED on the changes below, if you use Microsoft email accounts. Read our Knowledge Base Article for more information.

• Added a new means of authorising and sending emails from Communications Centre for any Microsoft email accounts (Office 365, Outlook, Hotmail, Live and more).

  • Please note: This will replace use of the existing ‘Office 365’ and ‘Outlook’ email provider types and has been implemented as a result of Microsoft’s planned removal (from 31st March 2024) of support for the mechanisms TaxCalc uses for these mailbox types.

  • Users will be able to change the email provider type to the new Microsoft Email option instead and authorise it to use any Microsoft mailboxes, should they need to.

Companies House Forms
Confirmation Statement

• Check & Finish will no longer display Invalid Authentication Code warning when creating a Confirmation Statement dated on or after 5 March.

• Paper copy of the CS01 form will now populate section B1 (share capital) and D1 (Shareholder information for a non-traded company) where the changes have been indicated to be included in the form.

• The following filling errors have been resolved for statements dated prior to 5 March 2024 and will no longer stop the user filing successfully with Companies House:

  ·        9999:Invalid Element accept Lawful Purpose Statement

Accounts Production
General maintenance

• Importing a trial balance from bookkeeping packages will retain the mapping on a subsequent import.

TaxCalc Product Update - version 14.5.501 - Released on 21st March 2024

Please note: 

• For Customers who have not already updated to Version 14, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

• This release may result in a change to the IR Mark on any existing V3 CT600 returns.

Product Summary

• Accounts Production
• Companies House Forms
• Tax Return Production
• Practice Management
• Practice Manager Plus
• Time
• eSign Centre

Accounts Production

General Maintenance

• Notes to the financial statements has been updated to display without a subtotal when there is only one item to display.

• The goodwill accounting policy for limited by guarantee companies has been updated to include the token for the profit and loss account/income statement, so the reference will be correct when applying Companies Act or FRS headers.

• Statement of cash flows: Cash and cash equivalents at beginning of the year/period have been assigned an iXBRL tag.

• Limited companies and LLPs with accounting periods starting on or after 1 April 2015 and ending before 31 March 2022 have been updated to apply FRC 2023 taxonomy, so these periods can be submitted electronically. This includes the submission of revised accounts.

• In the statement of director’s responsibilities for FRS 102 1a accounts, the electronic publication note has been included in Admin Centre and can be edited without a FRS 102 MLA licence.

• Auditor’s remuneration note: The non-audit services section heading has been replaced with ‘Other Services’ for any new accounting periods created.

• The default status of the debtors and creditors notes have been updated to avoid over-disclosure for limited companies and LLPs applying FRS 102 1A for any new periods created.

• The following online filling errors have been resolved and will no longer stop the user filing successfully with HMRC:

  • Chris:3314 Inconsistent duplicate fact values for ‘UnwindingDiscountOnPovisionsExpense’

  • Chris:3314 Inconsistent duplicate fact values for ‘InterestExpenseOnPrefrenceSharesClassifiedAsDebt’

  • CVC-complex-type.2.4.a: Invalid content was found starting with element '{"http://xbrl.frc.org.uk/cd/2019-01-01/business":NameProductionSoftware}'. One of '{"http://www.xbrl.org/2003/instance":item, "http://www.xbrl.org/2003/instance":tuple, "http://www.xbrl.org/2003/instance":context, "http://www.xbrl.org/2003/instance":unit, "http://www.xbrl.org/2003/linkbase":footnoteLink}' is expected.

LLPs

• LLPs, members report: The qualifying third party and pension scheme indemnity provision note will now be included in the financial statements when the note is selected to be included.

• The exceptional items note will no longer be brought forward into the next accounting period when bringing forward account settings and notes.

• The provision for liabilities note will now be displayed correctly under the additional notes filter for LLPs applying full FRS102 options.

• Default notes within the Admin Centre now include the following notes to match with the Edit Notes order at client level:

  • Additional notes to the report of the members

  • Controlling parties

  • Ultimate parent company

  • Ultimate controlling party
     

Companies House Forms

General Maintenance

• Resolved an issue where ceased shareholder(s) were displayed when generating a subsequent Confirmation Statement since the cessation date.

Tax Return Production

• SA100 & R40 – Individual Tax Return

  • Incorporation of the 2023/24 R40, SA100 Tax Returns and associated supplementary, including updates to calculations, summaries, wizards, HMRC helpsheets and worksheets.

  • Updated SimpleStep^(R) for the 2024 tax year.

  • Updated the Basis Period Calculator following changes to the legislation regarding basis period reform.

  • Added a new Transition Profits wizard to assist with the new rules regarding basis period reform.

  • Improvements made to the functionality and layout of the company car wizard.

  • Updated the validation relating to Subscriptions for shares under the Seed Enterprise Investment Scheme to recognise that the limit is £200,000.

  • Updated the Asset Details screen for Capital Assets to ensure that the boxes relating to Real Time Transaction Tax paid and Tax Paid on a UK Property Disposal are always visible.

  • Updated the Annual Pension Allowance wizard following changes to the annual limits.

  • Included a new information message regarding the removal of the lifetime allowance charge for 2023/24.

  • Updated the self-employment short pages of the SA100 Tax Return to allow for disallowable expenses entries.

  • Updated the self-employment full and short pages of the SA100 Tax Return to allow for private use percentage to be entered.

  • Minor formatting changes made to the SA302 Tax Summary.

  • Minor formatting changes made to the Data Entered Summary, Partnership Summary, TaxCalc Summary and Self-Employment Summary.

• SA800 – Partnership Tax Return

  • Incorporation of the 2023/24 SA800 Tax Return and associated supplementary pages, including updates to summaries, wizards, HMRC helpsheets and worksheets.

  • Updated SimpleStep^(R) for the 2024 tax year.

• SA900 – Trust Tax Return

  • Incorporation of the 2023/24 SA900 Tax Return and associated supplementary pages, including updates to summaries, wizards, HMRC helpsheets and worksheets.

• CT600 – Corporation Tax Return

  • Incorporation of the updated CT600, Version 3 (2024) form.

  • Updated SimpleStep for inclusion of the new boxes on the CT600.

  • Updated R&D SME relief section to account for R&D intensive companies.

  • Updated the Corporation Tax computation where an R&D SME relief rate of 14.5% is being claimed.

  • Updated creative tax credit rates for orchestra, theatre and museum and galleries relief in line with legislation changes.

  • Included a new information message for creative tax credit claims following guidance from HMRC that an additional information requirement applies from 1 April 2024.

  • Updated the notional tax calculation for RDEC claims to take into account the change in Corporation Tax rate of 25% from 1 April 2023.

  • Updated the locking/unlocking mechanism for associated company boxes (boxes 326, 327 and 328) where the account period ends on or after 1 April 2024.

• Capital Allowances

  • Updated capital allowances to cater for Investment Zone claims for Corporation Tax and Self Assessment Tax Returns.

  • Updated mapping for full expensing claims and qualifying expenditure on super deduction/special rate first year allowances, in line with new form CT600 and guidance.

  • Updated calculations for super deduction balancing charges where a full super deduction claim is not equal to 130% (relevant for account periods straddling 31 March 2023).

  • Updated the validations relating to electric vehicle charge points following the extension of the allowance to 31 March 2025.

  • General update to the layout and formatting of the capital allowances section of the Corporation Tax Computation.

  • Fixed an issue in the Capital Allowances Manual Grid relating to special rate pool and Freeport enhanced capital allowances.

  • Updated the date on the validation message for SA100 and SA800 Tax Returns relating to the Structures and Buildings Allowance.

Practice Management

For a limited company (limited by guarantee and limited by shares), additional relationship types have been added in the 'relationships tab' to allow for the following relationships to be added:

• Is a subsidiary of

• Is an associate of

• Is a joint venture of

An additional 'Group Structure' sub-item has been created for the 'Relationships' tab to view the 'Group Structure', which allows the user to see the group structure and the location of the selected company in the group structure. An option has been created to filter the view to:

• Show all relationships

• Show current relationships only

Practice Manager Plus

• Create work periods and set work statuses for tasks managed outside of TaxCalc, such as payroll.

  • Track your non-TaxCalc work items' statuses through jobs or via dashboard widgets, reports and data mine filters.

• It is now possible to bulk create jobs for all activity types and services, including custom.

• Client List

  • The most recent Tax SA statuses will now appear within the right-hand panel when a client is selected.

  • You can now add columns to the Client List for Non-TaxCalc work item status and latest period, to provide a quick view of all work.

General Maintenance

• Within Report Manager, when adding custom fields as reporting columns, there is no longer duplication.

• Within Data Mining when adding custom fields as data conditions, there is no longer duplication.

• Completing jobs with the recurrence override will now reset task statuses to Planned.

Time

General Maintenance

• You can now add Time Logs for contacts within the Time Module.

• You can now filter on work types (Jobs & Tasks) within the WIP overview table.

eSign Centre

• You can now upload multiple PDF documents to an envelope at the same time.

TaxCalc Product Update - version 14.4.601 - Released on 5th March 2024

Please note: 

• For Customers who have not already updated to Version 14, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

• This release may result in a change to the IR Mark on any existing V3 CT600 returns.

Product Summary

• Tax Return Production
• Practice Manager
• Company Incorporator
• Companies House Forms

Tax Return Production

• Improved database connectivity and database error handling for standalone databases.

Practice Manager

• You may now create a new email address, or mark an existing one, as a registered email address for limited companies and limited liability partnerships via the Contact Information page.

Company Incorporator

• Economic Crime and Corporate Transparency (ECCT) Act

  • Updated the IN01 (Application to register a company) and LL IN01 (Application to register a Limited Liability Partnership) forms in line with changes that have arisen as a result of the ECCT Act, for incorporations on or after 4 March 2024. This includes:

    • New options to enter and submit the registered email address.

    • New lawful purpose statement (for the IN01 form only) on the form and submissions.

    • On successful incorporation, the registered email address will be created in Practice Manager.

    • For any incorporations created within TaxCalc, but not submitted before 4 March 2024, a prompt will be displayed to update to the new form as the old versions of IN01/LLIN01 will be rejected by Companies House from 4 March 2024.

Companies House Forms

• Economic Crime and Corporate Transparency (ECCT) Act

  • Updated the CS01 (Confirmation Statement) and AD01 (Change of registered office address) forms for changes that have arisen as a result of the ECCT Act in the following ways:

    • AD01 (Change of registered office address) now contains a new section 3, to confirm that the address is an appropriate registered office address.

    • The first CS01 (Confirmation Statement) prepared after 4 March 2024 will require a registered email address. New options have been added to enter and submit the registered email address. A Check & Finish will warn where the registered email address is expected but not populated on the form. An additional statement will be included to confirm that the intended future activities of the company are lawful.

    • For any AD01/CS01 forms created within TaxCalc but not submitted before the 4 March 2024, a prompt will be displayed to adopt the new form, as the old versions of the AD01/CS01 will be rejected by Companies House from 5 March 2024.