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TaxCalc Release Notes 2021
Below are the Release Notes for TaxCalc 2021 releases. Click to see the Release Notes for 2013-2016 > 2017 > 2018 > 2019 > 2020 TaxCalc Product Update - version 11.16.123 - Released on 24 September 2021 Please note: For Customers who have not already updated to Version 11, this...
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24 Sep, 2021
Views: 121234
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What is a 1046 authentication error?
When you receive a 1046 error message in TaxCalc (as shown above), it means one of the following: HMRC hold different details to what has been input into TaxCalc prior to the submission attempt There is a block on your HMRC account. This can happen if you have attempted to file a number...
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29 Jun, 2021
Views: 107568
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Update to refunds made by HMRC
On 1st April 2015, HMRC updated their system to change the way they allocate repayments of overpaid tax. HMRC will only process the refund using the details entered in HMRC Forms: SA100 Core Return > Page 6 > boxes 4-14 SimpleStep: Other information > Bank Details if there had...
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23 Mar, 2021
Views: 66681
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Useful HMRC links and contact numbers
Personal Tax How to pay HMRC – Different ways to pay your Income Tax or Capital Gains Tax Online Services Helpdesk – Help signing up for online services or submission issues Tel: 0300 200 3600 (+44 161 930 8445 international) Registering for Self-Assessment – How and when you need to...
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28 Jun, 2017
Views: 66475
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How do I resubmit a return or file an amended return?
If, after making a successful submission, you need to make changes and file an amended return. Please see the video tutorial for a walk through of the process. Alternatively, please follow these written steps: Make your corrections. Click on Check & Finish. Check and review your...
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23 Mar, 2021
Views: 43450
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How do I download TaxCalc?
To download and install TaxCalc on a new computer, or update it on a computer that already uses TaxCalc, we recommend viewing our video tutorial shown below: Alternatively please follow these written steps: Go to the TaxCalc website. Click on Log in and enter your email address and...
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10 May, 2021
Views: 36804
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Where do I declare redundancy or severance payments?
This article will complete an example scenario to best explain the process and entries required for the method of declaring redundancy and severance payments. In this scenario, the overall payment received as per the P60/P45 is £100,000, of which £75,000 is relating to redundancy. SimpleStep...
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23 Mar, 2021
Views: 36484
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What exchange rate shall I use to convert foreign income into British pounds?
HMRC provides a list of exchange rates to use if you need to convert income into British pounds for your tax return.
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17 Jun, 2016
Views: 32289
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CT600 losses and how to carry them back
Carrying back trading losses A company incurring a trading loss in an accounting period can make a claim to offset the loss against total profits of the previous 12 months after first having set the losses against any profits of the accounting period in which the loss occurred. The Budget 2021...
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30 Jul, 2021
Views: 31504
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Can I get an official HMRC SA302 summary from TaxCalc?
Unfortunately TaxCalc doesn't produce any documentation bearing the official HMRC logo. This includes summaries such as the SA302. Mortgage lenders are now accepting the SA302 summary produced by third party software or the tax year overview. HMRC have stopped sending paper SA302 tax summaries...
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22 Feb, 2019
Views: 30757
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How do I import a return between non-consecutive years?
If you can't access a copy of the previous year’s tax return prepared in TaxCalc but do have a copy of a return from an earlier year, you may wish to bring this forward to the current year to retain personal information, basic entries and HMRC filing credentials. You can only directly import a...
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19 Mar, 2020
Views: 29738
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How do overlap profits/relief work?
Overlap profits can result when the year end date doesn’t line up with the tax year. If there is an overlap, this means that in the first two tax returns that you submit online to HMRC, you will pay tax twice on the overlap amount. The following example shows you how this works. In this...
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10 Mar, 2015
Views: 27636
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Moving TaxCalc to a new computer (Individual, Partnership and Limited Company users)
On the Old PC Before starting you should know the location of the data files. Start the TaxCalc program and select a file within an appropriate year. The file location will be shown in the ‘File Info’ at the bottom of the screen. In the example shown above, the...
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24 Mar, 2021
Views: 27608
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Cannot connect to database error message appears when starting TaxCalc
If TaxCalc loses contact with, or has never been able to connect to a database, you will receive a similar message to the below: This means that the connection to the database cannot be established. To resolve, you will need to know whether TaxCalc works on the server machine (the machine...
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09 Oct, 2019
Views: 26783
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How do I reclaim tax paid on loans to participators that have been repaid?
If you’re a close company that’s previously paid tax on a loan to a participator, you may be able to reclaim that tax. Once the loan has been repaid, released or written off partially or in full, usually the tax can be either offset against current corporation tax liabilities or repaid...
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23 Mar, 2021
Views: 26535
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Why can't I print my document or create a PDF?
If you're having problems printing or creating a PDF this could be due to a problem with the installation or configuration of the default PDF reader. If you're using TaxCalc 2015 or newer you can switch to TaxCalc Viewer instead. For more information read How do I enable TaxCalc Viewer? If your...
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28 Dec, 2018
Views: 25140
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How do I register as an agent with HMRC?
To register for online filing as an agent with HMRC you'll need an Agent Reference Number. Apply to your local tax office or apply online via the HMRC Online Services if you're overseas. Once you've received your Agent Reference Number, follow these steps: Go to the New user page on the HMRC...
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18 Mar, 2016
Views: 24646
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How do I complete a tax return for someone who has died?
If you are completing a return for someone who has died, there are two alternative methods of completion depending on the actions that have been completed in communicating with HMRC. If you have advised HMRC of the death of the deceased and informed them that you will be acting as a personal...
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23 Mar, 2021
Views: 24491
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How should I treat Franked Investment Income on a CT600?
Franked Investment Income (FII) is the name for UK dividends that a limited company receives from another company. To record FII on a CT600: SimpleStep CT600 Core > Trade and Professional income > Tax adjusted profit/(loss) worksheet – disallowable expenditure > proceed with steps...
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23 Mar, 2021
Views: 24017
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How is the reduction of my personal allowance calculated?
The general rule when working out a reduction in personal allowance is that if your income is greater than £100,000, your allowance will be reduced by £1 for every £2 over £100,000. For example, if your income is £110,000, your personal allowance will be reduced by £5,000. The £100,000...
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02 Mar, 2018
Views: 23316
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How do I send my tax return to TaxCalc?
In some cases when you have a query, the TaxCalc support team may need to look at the entries on your return. You can send the return by following these steps: Open the tax return. Click on Help in the top menu. Click on Send Return to TaxCalc. Complete your details for Your name, Your...
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19 Sep, 2018
Views: 22021
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How do I offset Capital (CGT) losses?
Any unused Capital Gains Tax losses from previous years that are carried forward have to be used against the first available capital gains. This means that you can reduce your capital gains to the yearly allowance amount (£12,300 in 2020-21) and carry forward the remaining losses. TaxCalc does...
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23 Mar, 2021
Views: 19566
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Tax Rates and Allowances
Please select from below: Income Tax National Insurance Contributions Working and Child Tax Credits Child Benefit and Guardian's Allowance Tax Free Savings Account Fuel Benefit Charge Van Benefit Charge VAT Capital Allowances Corporation Tax Authorised Mileage Rates Pension Contributions...
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25 Jun, 2020
Views: 19324
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Which UK ties do I need to enter for non-residence?
If you're claiming non-residence tax you need to enter your UK ties in box 12: SimpleStep mode – go to Residence and remittance > residence and remittance continued and enter the amount in the box labelled How many ties to the UK did you have in 2014–15? HMRC Forms mode – go to...
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15 Jun, 2016
Views: 19231
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How do I pay HMRC?
You can pay HMRC by several methods which are listed below with links to the relevant page on HMRC's website: Same or next day: Online or telephone banking CHAPS (Clearing House Automated Payment System) Debit or Credit Card online (You won't be able to pay with a personal credit card...
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18 Feb, 2020
Views: 19004
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