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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...
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24 Mar, 2020
Views: 2865
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HMRC API - Service status & common messages
Below are some common questions, queries and answers regarding the HMRC API facility that can be found within TaxCalc: Who should complete the identity check during authorisation? The identity check should be completed by someone who is authorised to act for your firm. (Details asked include...
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30 Oct, 2018
Views: 2773
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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. ...
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26 Mar, 2020
Views: 2763
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How do I get my proof of filing?
When you successfully file a return using TaxCalc, you'll get the following receipt. This contains the IR Mark (top left) and is your proof of filing. You can print this receipt for your records or save it as a PDF. To do this, click on Print this FBI receipt. NOTE: You'll also receive an...
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22 Feb, 2019
Views: 2722
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How do I restrict the use of the losses carried forward?
You can't restrict the use of losses that have been carried forward from a previous year as they must be used against the first available profits. This means that you can't reduce the amount of the loss to use up the personal allowance first. HMRC states that the losses should be deducted from...
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25 Feb, 2015
Views: 2715
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How do I make a claim for Enterprise Investment Scheme deferral relief?
To claim for Enterprise Investment Scheme (EIS) deferral relief, you need to enter details of the asset under Capital Gains. If you already have a PDF summary of the information relating to Capital Gains, you can use HMRC Forms mode. SimpleStep mode Complete the Asset Details screen. Tick...
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03 Aug, 2020
Views: 2692
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How do I import a return from the previous year's tax return? (Individual Users)
Depending on whether you are looking to import a single tax return file or multiple tax return files, the instructions will vary. Below are 2 videos, the first for importing multiple tax returns and the second for single file. Video 1 - Multiple tax return files Video 2 - Single tax return...
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05 Nov, 2020
Views: 2688
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How do I allocate profit and loss between partners in my SA800 return?
If your SA800 partnership return shows a profit and a loss for different partners, you will need to reallocate profits for all the partners because the rules state you cannot have a mix of profit and loss to be distributed between partners. All partners need to have either a loss or a profit. Once...
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19 Mar, 2020
Views: 2681
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What is a partnership return or SA800?
Partnership return (SA800) The SA800 is the partnership ‘statement’ that the nominated partner completes to declare: the income sources of the partnership how they are divided amongst the individual partners. It should contain: the Unique Taxpayer Reference (UTR) of the...
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16 Jan, 2017
Views: 2678
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Where do I enter Special Withholding Tax on a CT600?
To enter Special Withholding Tax on a CT600, follow these instructions: CT600 (2015) Version 3 SimpleStep mode – CT600 Core > Reliefs and deductions in terms of tax > Double taxation relief. HMRC Forms mode – CT600 Core > Page 5 > Box 450. CT600 (2008) Version 2 PLEASE...
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29 Mar, 2017
Views: 2589
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How do I view, modify or import old CT600 returns? (Practice customers)
If you want to open a CT600 return made in an earlier version of TaxCalc, follow these steps: Go to Practice Manager. Click on Import Client Select the tax year you wish to import the file from Choose if you want to import a single return or multiple returns and Browse to select the file ...
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29 Jul, 2020
Views: 2587
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How do I complete a CT600 for a property company? (Practice users)
To complete a CT600 for a property company, follow these steps: Open the client in Practice Manager. Go to Company Information. Tick Company is a Property Business (formerly schedule A taxation). Create or open the CT600. Go to Company Type (SimpleStep mode) or Information (HMRC Forms...
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03 Aug, 2020
Views: 2558
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How do I write off small pools in the Capital Allowances grid?
To write off small pools (with a balance of less than £1,000) and claim the allowance, first open the Capital Allowances grid. SimpleStep mode SA100 – Your Work > Self Employment > Short/Full Form – Details > Capital Allowances SA800 – Trades or professions for (XXX) >...
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28 Jul, 2020
Views: 2514
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How do I enter a Research and Development Expenditure Credit (RDEC) on my CT600?
The research and development expenditure credit (RDEC) replaced the large company scheme in April 2016 to continue to encourage investment in R&D. A large company can claim a taxable credit on qualifying R&D expenditure, up to 2 years after the end of the accounting period it relates to.In...
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13 Aug, 2020
Views: 2509
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How to use HMRC Self assessment APIs for Individuals
What are APIs? HMRC have provided a method of obtaining information relevant to the completion of a Tax Return called Application Program Interfaces or APIs. This is the first part of their overall Digital transformation project known as Making Tax Digital. Not an Individual user? The...
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07 Aug, 2019
Views: 2445
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