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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 (£12,000 in 2019-20) and carry forward the remaining losses. TaxCalc does...
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24 Mar, 2020
Views: 19167
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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: 18770
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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: 18717
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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: 18472
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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: 18151
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What's the deadline for my self-assessment tax return?
For the tax year ending 5 April 2018, the deadlines for self-assessment tax returns are: 31 October 2018 – paper. 30 December 2018 – online if you owe less than £3,000 and want it collected through next year's tax code. 31 January 2019 – online. If you miss the deadline you'll be...
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22 Nov, 2018
Views: 16311
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How much tax will I pay on my state pension lump sum?
Please note: that State Pension Lump sums are only available to persons that reached state retirement age before 6/4/16 Your state pension lump sum is taxed at the highest rate charged on other income received in the year. For example, if the highest rate of tax you pay is 20%, you'll pay 20%...
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26 Sep, 2019
Views: 16220
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How do I complete a return for a foster carer?
Use HMRC Forms mode to complete a tax return for a foster carer. Refer to the HMRC helpsheet on foster carers to guide you through the tax return as it gives useful scenarios and advice on calculating tax liability. Instructions on completing the self employment pages are on page 2 of this...
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03 Aug, 2020
Views: 15761
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"Can't open this file. There's a problem with the file format" when trying to print preview in TaxCalc using Windows 8/8.1
You might get the following error message instead of a pdf preview window when printing from TaxCalc using Windows 8 or 8.1: Can't Open this file. There's a problem with the file format This could be caused by one of two issues: Adobe Reader isn't installed. Adobe Reader isn't the latest...
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28 Oct, 2015
Views: 15195
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Who is considered a connected persons in Capital Gains?
In Capital Gains, a connected person is: your husband or wife or civil partner (but see the notes on page CGN 5 of HMRC's Capital Gains Summary Notes on transfers of assets between husbands and wives and civil partners) your brothers and sisters, and your spouse’s or civil partner’s...
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18 Mar, 2016
Views: 14207
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How do I recover my HMRC password?
You can't recover your HMRC password via TaxCalc because we encrypt it for security reasons. Instead, you'll need to contact HMRC directly for a new password. Phone Call HMRC on 0300 200 3600 to receive a new password by registered post. Online You can complete the password reset online....
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30 Jan, 2015
Views: 13946
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How do I enter R&D enhanced expenditure (for SMEs) on my CT600?
When you make a claim for research and development (R&D) enhanced expenditure for small and medium sized enterprises (SME's), you need to enter figures to adjust the computation to receive relief for the additional 130% of qualifying costs. If there is a loss, you may also need to make a...
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05 Oct, 2020
Views: 13931
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How do I make a claim for Enterprise Investment Scheme disposal relief?
You can make a claim for Enterprise Investment Scheme disposal relief in SimpleStep mode: Go to the Capital Gains section. Go to the Asset Details screen and enter the details. Tick the box Tick box if you are claiming Entrepreneur's Relief or any other reliefs or elections for this asset...
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04 Aug, 2020
Views: 12649
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Claiming Marriage Allowance
Making a Claim What to do if you cannot claim When trying to check my status or eligibility, a response of invalid or taxpayer not found is given Making a Claim For 2019/20 the Marriage Allowance lets you transfer £1,250 of your personal allowance to your spouse or civil partner, in order to...
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24 Mar, 2020
Views: 12223
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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...
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28 Jul, 2020
Views: 12069
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