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Recent Articles
Practice Manager Plus: Collateral
Practice Manager Plus has three key areas of functionality broken down into the categories below. It is flexible to cater for the different requirements for every practice. We have collated all the collateral to make it easier to get to know the product and get the most out of it for your...
rating 01 Apr, 2020 Views: 55
Practice Manager Plus - Feature Overview
Practice Manager Plus is our enhanced integrated practice management solution. With TaxCalc’s Practice Manager Plus you can take even more control of how your practice works by creating, customising and co-ordinating all your Jobs and Tasks in just a few simple steps. Whether you’re a new or...
rating 01 Apr, 2020 Views: 11
Getting Started with eSign Centre
TaxCalc eSign Centre dramatically reduces the time spent obtaining client approval for tax returns, VAT returns, sets of accounts and any other documents. Simply send over an electronic copy of the documents for the client to check, then once signed, you’ll be notified immediately where you can...
rating 01 Apr, 2020 Views: 2
TaxCalc Release Notes 2020
TaxCalc Product Update – Version 11.5.038 – Released on 26 March 2020 Applying the Update Please note: For Customers who have not already updated to Version 11 this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update. In...
rating 26 Mar, 2020 Views: 94176
Is the Average Number of Employees note mandatory for a Small Company?
Yes. Disclosure of the average number of employees is required under the Companies Act. Section 411 (1) The notes to a company’s annual accounts must disclose the average number of persons employed by the company in the financial year. (1A) In the case of a company not subject to the...
rating 26 Mar, 2020 Views: 7
Do I need to disclose the Average Number of Employees if they are NIL?
Yes. The Companies Act s411 (3) & (4) states: (3) The average number required by subsection (1)(a) or (b) is determined by dividing the relevant annual number by the number of months in the financial year. (4) The relevant annual number is determined by ascertaining for each month in the...
rating 26 Mar, 2020 Views: 8
Why am I getting a Check and Finish Message about the Average Number of Employees?
You will see a warning within Check and Finish where: The average number of employees has not been entered within Edit Notes. The Average number of employees note has not been disclosed e.g. Include this note = No. To clear the C&F warning please make sure the note is included within...
rating 26 Mar, 2020 Views: 4
Why do I now have to enter the total average number of employees?
To make sure the most appropriate tagging has been applied to the Average number of employees note it is now required that the total average number of employees is entered into specified fields within Edit Notes (instead of as an addition to the default text provided). Entering the total number...
rating 26 Mar, 2020 Views: 6
How do I show “Cost or Valuation” on the Fixed Assets notes?
The Intangible and Tangible Fixed Asset notes will make reference to “Cost or Valuation” automatically where a posting to has been made to a revaluation account code in the year (on any asset). Should revaluation have taken place in previous years, to continue to refer to “Cost or...
rating 26 Mar, 2020 Views: 2
How do I show a split of all Fixed Assets within the Notes to Financial Statements?
A small company is only required to disclose Fixed Assets under the following headings: Intangible = Goodwill, Other intangible assets Tangible = Land and buildings, Plant and machinery, etc. Where you wish to show a split of all assets within the Intangible and Tangible Fixed Asset notes...
rating 26 Mar, 2020 Views: 3
Can I run a Sanctions check via AML Centre?
Yes. Within the Client Due Diligence area of AML Centre, start an Identification stage for a client and go to Client Information. At the foot of the screen, select ‘Yes’ to ‘Do you want to run a sanctions check?’ A new child page ‘Sanctions check’ will appear. Search Sanctions...
rating 26 Mar, 2020 Views: 0
What needs to be disclosed in the Average Number of Employees Note for a Small Company?
The Notes to the Financial Statements for a Small company must disclose the average number of persons employed by the company in the financial year. Only the total average number of employees is required. Within TaxCalc Accounts Production go to Notes > Edit Notes > Average Number of...
rating 26 Mar, 2020 Views: 5
How do I switch between my live database and the demo database?
When trialling a TaxCalc product you have the option to use a Demo Database supplied by TaxCalc, or your live database. The Demo Database allows you to practice using TaxCalc on a separate standalone database and trial its features without having to enter lots of data. Any data you enter into the...
rating 26 Mar, 2020 Views: 8
Can I upload MS Word documents to an eSign envelope?
You can now include external PDF documents within your eSign envelope. This is particularly handy should you wish to send engagement letters to your clients. As engagement letters are generated in MS Word, you will need to convert them to PDF in order to upload them to the envelope. Converting...
rating 26 Mar, 2020 Views: 4
How to use the Pension Input Wizard 2018-19?
For wizard information for the 2019-20 tax year, please see: How to use the pension contribution details wizard for 2019-20? The Wizard has 3 sections: Excess contributions calculation 2018-19: Use to work out the excess contributions before any brought forward allowances can be used. ...
rating 26 Mar, 2020 Views: 2232
How to use the pension contribution details wizard for 2019-20?
Use this wizard to calculate the excess contributions (contributions that exceed the brought forward and current year allowance) as well as to keep a track of your previous years contributions and brought forward allowances. Note: This wizard can be used for defined contribution schemes, which...
rating 26 Mar, 2020 Views: 10
HMRC API - Available Tax Years
The HMRC API can be used with the following years. Note if a submission has already been made, this will not return any data 2018/19 2017/18 2016/17 2015/16 The following years are available but may NOT return relevant data as HMRC are currently conducting automatic reconciliation (this...
rating 25 Mar, 2020 Views: 2056
How to enter multiple trades on the CT600?
Unfortunately, you cannot enter multiple trades on the CT600. Instead you need to enter the combined figures into the computation to show the overall position and then attach a PDF computation for each trade to show the individual computations. This can be done in either SimpleStep or HMRC Forms...
rating 24 Mar, 2020 Views: 2697
The code execution cannot proceed because VCRUNTIME140.dll was not found.
If the following messages appear when trying to run the TaxCalc application for the first time on a new Windows 10 PC, the below steps can be used to fix the issue: 1 - Click on the start menu, type 'Apps & Features', then press enter: 2 - Locate the most recent 'Microsoft Visual C++...
rating 24 Mar, 2020 Views: 1
How do I change the password for a user?
Please see below the step by step instructions on how to change a password for TaxCalc users (other than admin). Step 1: Log into TaxCalc as the admin user Open TaxCalc and log in with your admin username and password Step 2: Open Admin Launch Admin from the home screen. Step 3:...
rating 24 Mar, 2020 Views: 408
How to complete the entries for notice of consent (CT600C) using V3 Form
CT600C Group and Consortium This article covers the V3 form of CT600 There are 3 reasons as to why the group and consortium pages need to be completed and how. These are listed below to assist you in the return. Simplified arrangements in place. If you are, otherwise, using the group...
rating 24 Mar, 2020 Views: 1426
What's the difference between personal allowance and Class 4 NIC rates?
Your Class 4 National Insurance contributions (NIC) for any tax year are based on your profits for that year. For 2019 - 20 you pay: 9% on annual profits between £8,632 and £50,000 2% on any profit over £50,000 You pay additional contributions on the difference between your personal...
rating 24 Mar, 2020 Views: 11935
How much tax will I need to pay in January?
The information you provide within the SA302 calculation will determine how much tax is due. This calculation will then apply any tax already deducted and leave you with a balancing payment (if there's any tax outstanding) or a repayment due (if you've overpaid in tax). If your total tax bill is...
rating 24 Mar, 2020 Views: 2046
When can I use the Dividend Database or What If? Planner?
The What If planner and Dividend Database are add on modules to your existing tax packages. Each year, the software is updated in June to contain the updated details required. Between April and June, TaxCalc are in communication with HMRC and are finalising the information that we have before...
rating 24 Mar, 2020 Views: 3078
Why are there no changes to the tax calculations once the Residence and Remittance pages have been complete?
The majority of the boxes presented on the Residence and Remittance pages are for HMRC's information only and therefore no calculations are updated. Usually you would only need to enter the taxable income on the tax return. If you have any non taxable earnings these should be declared in the boxes...
rating 24 Mar, 2020 Views: 250