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How do I switch to a summary breakdown of expenses on my SA800 partnership return?
You can only switch to a summary breakdown of expenses in your SA800 partnership return if turnover is below the threshold for declaring income on the Full Form. The VAT registration threshold for 2018–19 is £85,000. To switch to a summary breakdown you need to clear all entries made on the...
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04 Aug, 2020
Views: 398
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How do I turn off 'Sent to Client?' in tax returns?
When printing a tax return, TaxCalc will ask you if you want to mark the return as printed and sent to client for approval. To turn this setting off, follow these steps: Select Admin Centre from the home screen. Click on Applications on the left. Click on Tax Return Production in the middle...
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24 Mar, 2020
Views: 396
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Claiming rent a room relief and property allowance
HMRC have confirmed that an individual can claim the property allowance for one property and rent a room relief for another. If rent a room income is below £7,500*, this is very straightforward. In HMRC Forms mode, on page UKP1, tick box 4 (If you are claiming rent a room relief and your rents...
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24 Mar, 2020
Views: 394
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Database and linked files explained (Professional)
TaxCalc can now provide you with either a stand-alone or network installation set-up. If you’re using a stand-alone version, you have the option to store your returns either in a local database or in regular files, much like previous editions of TaxCalc. You can still open TaxCalc 2013...
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17 Oct, 2019
Views: 388
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How do I remove text above box 19 in Additional Information?
If you import your tax return from the previous year, you might see imported text above box 19 of the Additional Information section. This text often relates to losses, pensions and so on that have been brought over from the previous year. If these losses don’t apply in the current year,...
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15 Sep, 2017
Views: 384
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Network Access is Disabled
When submitting a tax return through to HMRC, it can sometimes fail with the message 'Network access is disabled' There are a few reasons for potentially obtaining this error when sending a live submission through the gateway. These include: Proxy Server Firewall/Anti-Virus blocking...
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03 Aug, 2020
Views: 382
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How do I nominate my tax refund to a charity?
You can no longer nominate your tax refund to a charity on your tax return. From 6 April 2013 HMRC can no longer make repayments to a charity for any year. If you've requested a charity payment for previous years it will be sent directly to you. If you want to donate your repayment to a...
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02 Mar, 2018
Views: 381
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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...
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26 Mar, 2020
Views: 378
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Information about the Trading/Property allowance
HMRC have published information on their website surrounding their new tax allowance. This new allowance starting from 2017/18 tax year, effectively means that if your income (before expenses) is less than the £1,000 value, you will no longer have to declare or pay tax on this income. If...
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05 Dec, 2018
Views: 366
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How do I create an R40? (Practice users)
To create an R40, follow these steps: Open the client in Tax Return Production. Click on New Return. Select R40 - Individual Repayment from the first drop-down menu. Select the relevant tax year from the second drop-down menu. Click on Create. Double-click on the R40 to open it, or click...
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21 Sep, 2015
Views: 362
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How do I sort data I've entered into a wizard?
If the wizard contains an underlined heading, you can sort data by that column: Click on the heading to sort the data alphabetically. Click on the heading again to sort the data in reverse order.
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15 May, 2015
Views: 330
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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...
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24 Mar, 2020
Views: 320
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How is Top Slicing Relief calculated after the Finance Bill 2020 changes?
What is Top Slicing Relief? Top Slicing Relief (TSR) hypothetically spreads a chargeable event gain (CEG), such as a gain on a life policy, over the years of the policy, such that the tax is payable as if the CEG had been received in equal amounts every year. It’s not an exact calculation as it...
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13 Aug, 2020
Views: 315
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What has happened to the Homescreen? (Professional)
TaxCalc now uses Practice Manager to store, record and manage clients’ data. Once the client is set up in Practice Manager it is simple to start preparing their tax return or accounts. This setup gives you the benefit of storing all your data centrally and also allows for integration between...
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17 Oct, 2019
Views: 289
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How do I create a CT600 for an earlier period?
You can create a CT600 return in Practice Manager or Tax Return Production. Make sure you're using the latest version of TaxCalc and follow the instructions below. Practice Manager Open Practice Manager. Right-click on the client. Select Open in Tax Return Production. Click on New Return. ...
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17 Oct, 2019
Views: 283
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