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TaxCalc Release Notes 2023
Article ID: 2015
Last updated: 17 Apr, 2023
Below are the Release Notes for TaxCalc 2023 releases. Click to see the Release Notes for 2013-2016 > 2017 > 2018 > 2019 > 2020 > 2021 > 2022
TaxCalc Product Update - version 13.6.003 - Released on 17th April 2023
Please note:
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For Customers who have not already updated to Version 13, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.
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This release may result in a change to the IR Mark on any existing V3 CT600 returns.
Product summary
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Tax Return Production
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Practice Manager
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Accounts Production
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AML Centre
Tax Return Production
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General Maintenance
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CT600: Fixed an issue where Page 12 wasn’t being included in the print preview.
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CT600: Added additional validations for boxes relating to marginal relief and associated companies.
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CT600: Fixed an issue when trying to open or create a Corporation Tax Return where the accounting start date is before 1 April 2015.
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SA100: Added a validation for HMRC Exclusion 138, which applies where amounts entered for post-cessation trade relief and certain other losses are in respect of pre-incorporation losses and should not be subject to the £50,000 cap.
Practice Manager
Accounts Production
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General Maintenance
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The Check & Finish notification that appears when the total for the Average Number of Employees does not match the breakdown in the comparative year will now only be displayed where it is applicable.
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In some scenarios where the director is appointed after the year and signing the accounts, a rejection was received (‘Generic dimension member (bus:Director) has no associated name or description item'). The director(s) will now be displayed on the Company Information page and submit successfully.
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Where Investments Properties are selected to be displayed in a separate note, the values for Investment Properties will correctly be displayed in a separate row within Fixed Assets for the comparative period.
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The Turnover note number will not be duplicated any more.
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Plant and equipment on depreciation and revaluation will now bring forward into the correct opening balance account.
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An issue causing notes to not be displayed where there are only postings in the comparative year has been resolved.
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The relevant Check & Finish notification will display the correct value for Cash and cash equivalents at end of year.
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In the Statement of Cash Flow, values for new finance leases will be displayed correctly in the repayment of finance leases row in cash flows in the Financing Activities note.
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The Interest Receivable and Similar Income note will now be triggered correctly when postings to suitable accounts exist.
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The Share Based Payments note will now be displayed in the correct location within the financial statements.
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The following online filling errors have been resolved and will now allow the user to file successfully to HMRC.
-Chris 0 Accounts error – Inconsistent duplicate fact present for ‘CashCashEquilaventsCashFlowValue’
-Chris 0 Accounts error – OtherInventories requires an instant but its context contains a duration
-Chris 3314 Accounts error – Inconsistent duplicate fact present for DecreaseFromReversalImpairmentLoss RecognisedInProfitorLossPropertyPlantEquipment
-Chris 0 Accounts error – FutureMinimumLeasePaymentsUnderNon-cancellableOperatingLeases requires an instant but its context contains a duration
AML Centre
TaxCalc Product Update - version 13.5.763 - Released on 23rd March 2023
Please note:
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For Customers who have not already updated to Version 13, this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.
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This release may result in a change to the IR Mark on any existing V3 CT600 returns.
Product summary
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Tax Return Production
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Accounts Production
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Practice Manager
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Practice Manager Plus
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Communications Centre
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General
Tax Return Production
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SA100 & R40 – Individual Tax Return
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Incorporation of the 2022/23 R40, SA100 Tax Returns and associated supplementary pages for HMRC Forms Mode and SimpleStep(R), including required updates to calculations, summaries, wizards, HMRC helpsheets and worksheets.
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2023 Client Questionnaire is now available.
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Updated the import for rental income from Accounts Production to Tax Return Production to ensure that joint property is taken into consideration.
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SA800 – Partnership Tax Return
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Incorporation of the 2022/23 SA800 Tax Return and associated supplementary pages, including updates to summaries, wizards, HMRC helpsheets and worksheets.
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Updated SimpleStep for the 2023 tax year.
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SA900 – Trust Tax Return
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Incorporation of the 2022/23 SA900 Tax Return and associated supplementary pages, including updates to summaries, wizards, HMRC helpsheets and worksheets.
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CT600 – Corporation Tax Return
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Incorporation of the updated CT600, Version 3 (2023) form.
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Incorporation of the new CT600N, Residential Property Developer Tax Supplementary pages.
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Updated SimpleStep for inclusion of the new boxes on the CT600.
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Inclusion of SimpleStep for the new CT600N, Residential Property Developer Tax Supplementary pages.
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Update of Corporation Tax calculations for the inclusion of marginal relief for small companies from 1 April 2023.
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Updated R&D to include the new rate changes for R&D expenditure and RDEC claims (applicable for CT periods starting on or after 1 April 2023).
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Capital Allowances
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Updated Annual Investment Allowance calculations to account for the extension of the £1,000,000 limit from 1 April 2023.
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Fixed issues for SA100 and SA800 Tax Returns where blank columns were being brought forward on creation of a new Tax Return for capital allowance purposes.
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Updated the asset details screen to ensure that the first year allowance data entry box is visible for Corporation Tax Returns starting on or after 1 April 2023.
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HMRC Token Management
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General Maintenance
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SA100
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Improvements to the furnished holiday lettings individual property summary and total property summary.
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Updated marriage allowance transfer rate and addressed typographical errors on the marriage allowance eligibility fetch screens.
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Updated the data entered summary for wording relating to capital allowances entered in the Short SE pages.
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Fixed an issue where removing the tick for Student and post graduate loan entries wasn’t removing all data.
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Included further validations relating to property income, and claiming property income allowance and expenses on different properties.
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Fixed an issue on the Self employment adjusted profit computation to ensure that the trading income allowance was being deducted as expected (tax return correctly deducted).
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Made a small adjustment to the import mapping between Accounts Production and Tax Return Production for rental expenses.
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Removed a validation relating to HMRC Exclusion 57 as this is no longer applicable.
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Corrected a calculation error on the foreign tax credit relief report when Welsh taxpayer status has been set and the taxpayer is in the higher rate tax bands.
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Updated wording on the wizard screens for VCT, EIS, CITR, SEIS and SITR claims.
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Unlocked rental income boxes PRO42 and PRO39 when there are multiple properties.
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Added a new validation if the maximum amount of rental income losses brought forward are not being utilised in full against rental income profits arising in the year.
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Updated the SA302 Tax Summary to ensure that negative adjustments relating to capital gains tax are included.
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Updated the SA302 Tax Summary to ensure that capital gains tax paid is included on the summary when there’s an overall capital loss arising.
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Updated the SA302 Tax Summary to include dividend tax credits for individuals who are remitting dividends into the UK that carry a 10% dividend tax credit.
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Fixed a formatting issue on the SA302 regarding underlining when the tax calculation spanned two pages.
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Fixed a calculation error on HMRC’s SA110 Tax Calculation Summary for box A327 (was not displaying pence).
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Included additional text on dividend wizard pages and a related dialog box relating to share splits that have taken place during the 2022/23 tax year.
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SA800
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SA900
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CT600
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Enhanced the functionality for super deductions claims for Corporation Tax periods starting on or after 1 April 2023.
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Addressed an issue relating to partial super deductions claims for Corporation Tax periods straddling 31 March 2023.
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Updated the calculations for ring fenced profits as negative entries were being shown on form CT600 in the Corporation Tax Chargeable section.
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Updated the calculation for ring fenced profit to ensure the correct rate was being used when marginal relief was being claimed.
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Updated automatic population of box L166 to ensure that R&D enhanced expenditure relating to ‘Subcontracted to a large company’ expenditure isn’t included.
Accounts Production
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Accounts Production - FRS 102 MLA - Medium & Large Accounts Add-on
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The FRS 102 MLA add-on allows you to prepare accounts in accordance with FRS 102 for Medium & Large individual companies. As well as the existing FRS 105 and FRS 1021a accounting standards, the accounting standard selection screen contains an option to select FRS 102. For any FRS 102 1a client, there is also the option to select to include options to add any of the disclosures relating to FRS 102.
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New reports, which include:
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As well as enhancements to the notes for FRS 102 that already exist for FRS1021a, the following new notes have been included:
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Directors report
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Change of company name, Qualifying third party pension scheme indemnity, Research & development, Employees, Employee engagement statement, Branches outside the UK, Streamlined energy and carbon reporting, Matters covered in the strategic report, Additional notes.
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Accounting policies
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Reduced disclosure exemptions, Investment policy, Exemption from preparing consolidated financial statements, Interest receivable and similar income, Employee benefits, Provisions and contingencies, Cash and cash equivalents.
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Notes
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Statement of compliance, Other operating income, Interest receivable and similar income, Auditors remuneration, Investment – subsidiary disclosures, Loans, Share based payments, Financial instruments.
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Further to the above, with the FRS 102 MLA add-on you can:
Practice Manager
Practice Manager Plus
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General Maintenance
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Expanding jobs in work management displays the tasks within the job on all occasions.
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Changing the assignation for a task within a job from a team to unassigned recognises the change.
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Applying a job template to a job, where the job assignee is unassigned, correctly sets the task assignee.
Communications Centre
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Notifications
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Reminder approaching – a notification will appear a few days before record request reminders will be generated, to provide an opportunity to update the work status should records have already been received and to prevent a reminder being generated unnecessarily.
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Records received – a notification will appear a couple of weeks after the work status has been changed to Records Received, to prompt you to consider whether work can now start.
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Client Record
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Admin Centre
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General Maintenance
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A problem causing request records automation to be unable to generate messages consecutively, has now been resolved.
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An issue causing reminder automation to be unable to generate reminders for other clients with the same period once one client has received the records, has now been resolved.
General
Article ID: 2015
Last updated: 17 Apr, 2023
Revision: 207
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Views: 144701
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