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How to defer class 4 NIC?
Deferring Class 4 NIC From 2015/16, you are no longer able to defer Class 4 NIC. HMRC have changed the rules and if you wish to find out further information, please visit the HMRC website: Defer your National Insurance. However, you may be able to claim a refund for previous tax years. If you...
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14 Mar, 2019
Views: 897
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Replacement of 0845 numbers with 0345 ones
We have now fully replaced our 0845 numbers with 0345 equivalents. We have switched only the initial two digits in every case so, for example, our main support line has changed from 0845 5190 882 to 0345 5190 882. Almost all customers will pay slightly less for a call to these numbers than they...
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23 Oct, 2019
Views: 849
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Where do I enter an averaging adjustment?
To enter an averaging adjustment you need to go into the Full Self Employment pages. SimpleStep mode Go to Your Work > Self Employment > Annualised turnover. Tick the bottom box for Are any of the above true (or do you wish to complete the Full form for any other reason)? Click Next...
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22 Mar, 2016
Views: 845
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Why don’t I have to make payments on account?
You don't need to make payments on account (POA) towards the next tax year if: The total tax due (less Class 2 NIC payment) for this year is under £1,000 Or More than 80% of the tax due is met by income tax deducted at source. Illustrated Example for point 1: POA are not due when the...
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02 Mar, 2018
Views: 838
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Where do I find the Capital Gains Tax summaries?
If you've completed the Capital Gains Tax pages in SimpleStep mode, the appropriate disposal, intermediate and final calculations will be in a pdf that's automatically attached to the return. You can view and print all your disposals and the intermediate and final summaries by following these...
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02 Mar, 2018
Views: 821
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How do I encrypt or password protect my tax return?
If you want to encrypt or protect your tax return so that it can only be read using a password, follow these steps: Open the tax return. Go to File > Password Encryption. Read the introduction text carefully. Set a new password as required. Save the return. When you next open the tax...
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07 Feb, 2020
Views: 807
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How do I enter a long period/basis period in the SA800 return?
The Partnership return does not cater for basis period/overlap relief. The tax return does not provide a box to make the adjustment to apportion the details for the full period. The first return you submit should contain the apportioned amounts from the start date to 5 April. The second return...
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24 Mar, 2020
Views: 802
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How do I claim investments or shares in a Seed Enterprise Investment Scheme?
You can claim income tax relief on investments in a Seed Enterprise Investment Scheme in SimpleStep or HMRC Forms mode. SimpleStep mode Go to Tax reliefs and allowances > Relief on investments. Enter the amount in the box labelled Subscriptions for shares under the Seed Enterprise...
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24 Aug, 2020
Views: 793
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How do I report Capital Gains disposals on an R40 Claim for repayment?
You can no longer report Capital Gains disposals on an R40 Claim for repayment. Instead, you'll need to complete an SA100. For the tax year ending 5 April 2016, you can submit the SA100 as a paper copy by 31 October 2016. After this date, you can only submit an online version and you must...
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18 Mar, 2016
Views: 786
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How do I import joint income between two tax returns (Practice User)?
You can import income from one return to another by following these steps: Open up an SA100 tax return. Select Joint income importing from the left-hand menu. Select Import joint data. Browse and search for the client you want to import the data from. Click on Select. Select the tax return...
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11 Aug, 2015
Views: 784
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How do I carry back partnership losses?
To carry back a partnership loss for the current year to a previous year, you need to make a manual adjustment to your SA100 tax return for the year in which the loss occurred. You don't need to re-submit your return for the previous year and this cannot be done via the SA800 tax return. To...
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20 Feb, 2020
Views: 775
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Does the trial have any limitations?
The 14-day trial is a nearly fully functioning version of TaxCalc, with some limitations: Anything that is printed will appear with a watermark. You will not be able to file online whilst on a trial period. It is not possible to export any reports to Word/Excel.
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03 Aug, 2020
Views: 733
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Claiming relief on P2P loans
To claim relief on peer-to-peer (P2P) loans for the current tax year (2019/20), you will need to make a manual reduction before entering figures onto the return. Please see the guidance published by HMRC (Income tax relief for irrecoverable peer to peer loans guidance) for more information....
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24 Mar, 2020
Views: 725
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How do I claim foreign tax credit relief on my Capital Gains?
You can claim foreign tax credit relief on the Capital Gain entries on your tax return in SimpleStep or HMRC Forms mode. SimpleStep mode Go to Capital Gains Tax. Check that you've completed the required details on the Asset Details page. Go to Foreign Tax Credit relief. Complete the entries...
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21 Sep, 2015
Views: 724
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How do I use the Batch Filer module?
The Batch Filer module allows you to file SA100, SA800 and SA900 tax returns in batches instead of individually. You can access Batch Filer from the home screen. The Batch Filer screen will give you details of any previous batches created and break them down by name, number of returns, client...
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23 Oct, 2019
Views: 723
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