TaxCalc Release Notes 2024

Article ID: 2015
Last updated: 13 May, 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 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:


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.

Article ID: 2015
Last updated: 13 May, 2024
Revision: 223
Views: 163735
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Also read
item TaxCalc Release Notes 2013 - 2016
item TaxCalc Release Notes 2019
item TaxCalc Release Notes 2017
item TaxCalc Release Notes 2018
item TaxCalc Release Notes 2020
item TaxCalc Release Notes 2021
item TaxCalc Release Notes 2022
item TaxCalc Release Notes 2023