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Claiming tax relief for working from home
As per HMRC guidance, you may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the week. This includes if you have to work from home because of coronavirus (COVID-19). You can either claim tax relief on: £6 a...
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12 Oct, 2020
Views: 187
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How to import/restore tax return files when moving from the personal to practice interface?
Your tax returns are still present within your folder structure. The practice version of TaxCalc utilises a database to store your data instead of individual tax return files. You simply need to import your returns into the database. Locate your Tax return files. Before starting ensure you know...
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19 Mar, 2020
Views: 167
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How to check the integration between tax returns and Practice Manager data
If you enter any data in a tax return that has not been entered into Practice Manager (or vice versa), you can transfer the new values entered and overwrite the old entries. You can do this by checking the integration of a return. To do this: Open the tax return for a client. Click on the...
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23 Oct, 2019
Views: 166
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Information about the Scottish tax rate for 2018/19
This article looks at the Scottish rates of income tax for the 2018/19 tax year. For information regarding 2016/17 and 2017/18 and how to change the rate being applied to the tax calculation please click here Scottish tax bands and rates Although there was a small change between the UK and...
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01 Jun, 2018
Views: 161
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Statutory Residence Test changes relating to COVID-19
The Statutory Residency Test (SRT) is the legislation by which an individual’s UK tax resident status is established. There are a number of automatic tests applied, from which you are deemed to be either non-resident or UK resident or if none of the conditions have been met, a day test will apply...
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23 Jun, 2020
Views: 158
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How do I remove the pop-up for ‘Sent to client’ when printing?
When you create a pdf to send to your client for approval, TaxCalc allows you to set the status of that return to Sent to client via a pop-up. The pop-up appears if you go to: Go to Printing Preferences > Who is it for? > My Client (copy for client to sign, including IR mark). You can...
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30 Jan, 2015
Views: 156
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How is Top Slicing Relief calculated for 2018/19?
Top Slicing Relief 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 in every year. It’s not an exact calculation as it doesn’t match the income to...
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06 May, 2020
Views: 147
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Changes to the CT600 form to include the new Northern Ireland supplementary pages.
As you may or may not know, HMRC have incorporated changes to the CT600 to cater for the Northern Ireland Assembly setting a Northern Ireland rate of Corporation Tax to apply to certain trading income. These changes were made in preparation for the rate of tax changing in April 2018. This...
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01 Nov, 2018
Views: 143
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Does TaxCalc cater for foreign residency or Dual Tax pages?
Yes, TaxCalc caters for foreign and dual residency pages. The residence and remittance pages have wizards which help you fill the criteria while calculating your tax, so you always know how much you need to pay or are owed. You can calculate your personal allowances by virtue of Double Taxation...
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07 Aug, 2020
Views: 139
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Self Assessment workflows with Practice Manager Plus
Using our new Practice Manager Plus advanced workflow allows you to create Jobs and Tasks to complete your Tax Returns efficiently, making sure you meet any statutory deadlines. Please see our video below on how Jobs and Tasks can help with Self Assessments for your practice:
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03 Dec, 2019
Views: 136
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tcSyncCH message when filing an SA100 return. The program requests the user to use the synchronisation tool
Some individual users have reported that the following message is seen at the 'check and finish' stage when they are filing an SA100 return If you are an individual user this message should not be appearing and can safely be ignored. Do not try to synchronise the data. Important: If you...
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17 Oct, 2019
Views: 118
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Entrepreneurs Relief changes from 11 March 2020
Entrepreneur’s Relief- disposals after 11 March 2020 What has changed? Whilst it was announced in the Budget 2020 that the lifetime allowance would be reduced from £10 million to £1million for disposals made on or after 11 March 2020, at the time of writing, there has been no legislative...
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12 Oct, 2020
Views: 106
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Pension Tax Charge payment rounding - HMRC Special Case 32
For the 2019/20 tax year, if your pension contributions entered on your tax return have exceeded the annual allowance (currently £40,000), you may have incurred a pension tax charge and this will appear on the SA302 Summary (Subject to entries within SimpleStep Mode > Tax Reliefs and...
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04 Aug, 2020
Views: 101
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Exclusion 96 - Scottish rate extended basic rate band not applying to savings and dividends income
HMRC Filing Exclusion 96 applies to Scottish rate taxpayers who make pension contributions or gift aid payments which will extend the basic rate band. The basic rate band should be extended to non savings and savings income but the calculator is currently restricting relief to non savings income...
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11 Dec, 2019
Views: 101
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HMRC Exclusion 102 - chargeable event gain and beneficial ordering of the personal allowance
HMRC Filing Exclusion 102 will affect taxpayers who have a Chargeable Event Gain (CEG) with notional tax, in the higher rate band and dividend income. The personal allowance is being allocated against the CEG when it would be more beneficial to allocate it against the nil rate dividend income. ...
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11 Dec, 2019
Views: 99
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