Knowledge Base

TaxCalc 2010 Release Notes

The Current Version is 10.22.01 - released 28th November 2011.

The following issues have been addressed:

SA submissions

  • The TaxCalc Security Certificate has been updated following recent HMRC changes.

 

SA100 specific updates

  • ‘Entrepreneurs Relief’ has been updated regarding CGT.15 qualifying.

  • UK Property ‘PRO40: Loss set-off against 2009-10 total income’ has been unlocked, as this can be used in some circumstances.

  • In UK Property ‘PRO34: Wear & tear allowance’, rounding has been changed to round down.

Version 10.20.00 - Released 25th October 2010

The following enhancements have been added:

  • Online filing for FY10 has now been enabled including updated validations

  • CT600 Indexation rates (for Corporate Chargeable Gains calculations) have now been updated to handle gains disposed of up to August 2010.

  • Importing of SA100 returns from IRIS CSV reports has been updated

  • Tax Office addresses updated to include recent changes and customer operations offices

  • Joint data importing now includes bank account numbers as well as names.

  • New Reliefs box added to WhatIf calculator for Top-Slicing Relief

The following issues have been addressed:

  • WhatIf Calculator was not performing calculations if taxpayer had elected to be non-resident in current year.

  • Member of Parliament expenses boxes were not offsetting against income in tax calculation.

  • Special ID27 individual with a foreign partnership UTR entered changed from 99999 99999 to taxpayers UTR as per new instructions in the HMRC Specials document.

  • There was an issue with the filing of CT600A and Box 79 not showing a 0.00 in the xml causing the return not to file online

  • Issue with filing Lloyds pages where, if, brought forward losses are used to clear all current year profits it could not be filed online.

  • Class 4 National Insurance calculations in the WhatIf feature will now take into account age exemptions that would begin in 2010/11.

  • Error messages relating to blank assets created in prior years software and not deleted were showing on check & finish screens

  • FTCR tick box on Foreign Page 6 was not ticking on screen if ticked by using wizard entry.

Version 10.12.04 - Released 13th July 2010

The following enhancements have been added:

  • The mechanics of online filing and response printing the has been improved and nowuses similar text and screens to the SA100 returns.
  • The Drummhor to TaxCalc conversion has been updated to import 2009 data for SA100, SA800 and CT600 files
  • Lump Sum and Expenses Wizards have been added to the Client Questionnaire.
  • Double Taxation Agreement calculations for Botswana, Poland, Faroes and Saudi Arabia have been updated along with certain country codes.

The following improvements to the Value Added / What If modules have been made:

  • Following the Budget, 2010 Capital Gains transactions post 22 June 2010 are now dealt with in the What If Planner.
  • Logic has been added to the What If Planner RE restriction of Personal Allowance (where income is over £100,000) when pension and Gift Aid payments have been made.
  • The ability to use/input 2011 Payments on account into the What If planner calculations has been added which provides a more accurate prediction of Jan 2012 liability.
  • the ability to merge batch client letters to an existing Word Template file (if user has their company header and address in a template) has been added.

The following issues have been addressed:

  • Group Relief surrendered has now been added to the CT600 computations in both PDF and iXBRL format.
  • Within the Company Car wizard, the start and end dates are now defaulting to the current tax year
  • A rare issue where warning regarding Gift Aid was being displayed has been resolved.

Version 10.12.02 - Released 17th June 2010

New Module (Requires separate license and purchase)

  • Data Mining.
  • Tax Tips & Planning.
  • Batch Mail Merge.
  • Variance function.
  • What IF function and calculations.

The above functionality is built into the Value Added System which is available here.

The following enhancements have been added:

  • Improvements to the conversion from Forbes software.
  • The IR Mark has been added to the FBI screen for all modules (PRO only).
  • Additional validation has been added to the Capital Allowances Calculator.
  • A new wizard has been added to the Employment section for expenses.
  • An additional CT accounts validation has been included for XBRL submission.
  • Indexation update for corporation tax CGT.
  • The conversion routine from PTP has been improved further.

The following issues have been addressed:

  • An issue where total figures were not included in the SA900 export has been resolved.
  • Import of relief descriptions has been improved.
  • Corrected the dates logic on Company Car wizard.
  • Where using a low resolution monitor the scrollbar was not appearing in the Capital Allowance Calculator.
  • Improvement in the logic used in the HS304.

Version 10.08.11 - Released 19th May 2010

The following enhancements have been added:

  • The Dividend database (which is available as an optional chargeable module for all users)is now incorporated in the software and with it the ability to bring forward and automaticallyrefresh dividends from a prior year.
  • The £100,000 Annual Investment Allowance rules have been added to the Capital Allowance Calculator for purchases falling within the 2010 Financial and Tax years.
  • There is now the ability to attach iXBRL Accounts and file these to HMRC. These accounts will have been created from third party software.
  • Automatic population of the R185 is now available as there is now a new Beneficiaries List page to the SA900 trust return. This allows the entering of beneficiaries details to be imported year on year and used within the SA900 return.
  • CT600 Indexation rates (for Corporate Chargeable Gains calculations) have now been updated to handle gains disposed of up to Feb 2010.
  • The updated CWF1 (Self Employment National Insurance registration form) has been added with links to relevant HMRC information.
  • The import routine from PTP has been improved and how also included the ability to import CT600 information.
  • Within the Lloyds pages, TaxCalc was claiming foreign tax as a deduction automatically. It is now clearer to the user in how to claim this as a foreign tax credit instead of a deduction.

The following issues have been addressed:

  • Descriptions of some Yearly Comparison fields have been updated to be clearer to the user.
  • Yearly Comparison data in the SA107 (Trust/Estates Income) wizards was not importing; this has now been corrected.
  • The CT600 accounts attachment messaging. Has been changed to ensure that the warnings and instructions are now clearer to the user.
  • A correction has been made where the SA900 Tax Pool to carry forward was not being calculated when no discretionary payments have been made.
  • In the CT600 Computations, when opening a return created in TaxCalc 2009, the Depreciation figure was occasionally being removed when then being opened in TaxCalc 2010. This has now been resolved.
  • In certain circumstances (depending on the precise data in the return) , some descriptive text was missing from the Client Questionnaire. This has now been resolved.
  • When using the Joint Income import, some descriptions were not importing into Interest and Capital Gains sections requiring re-entering.
  • SA107 (Trust and Estate income) wizards were not importing the descriptions from last year.

Version 10.06.05 - Released 12th April 2010

The latest HMRC Notes and Help Sheets are now included within the software andcan be accessed through the Help system

In addition to the above, the following issues have been addressed:

  • Trust Return (SA900) Summary was not deducting Payments on Account already made when calculatingthe January 2011 total payment due to HMRC. If Payments on Account had been made during 2010, thesummary would be advising an incorrect amount to pay in January 2011. This has been corrected.
  • Trust Return (SA900) Summary. When printing, this summary had references to 2008-09 tax year ratherthan 2009-10 tax year.
  • R185 form on Trust return (SA900). When printing, the tax year referred to at the top of the first pagewas “2009”. Corrected to “2010”.
  • Trust Return (SA900). Box 21.2 (Date of cessation of administration period) was requiring a date in2008-09 tax year. Corrected so now requires a date in 2009-10 tax year.
  • Trust Return (SA900) includes the SA951 calculation summary. HMRC have a new SA951 PDF for printing.The updated SA951 is now included for printing purposes only.
  • In Professional Client Manager, if a single client file within a list was ticked and the ‘Delete’ button clicked,the correct file was deleted but the message incorrectly referred to the top file in the list. This has beenresolved and the correct file referred to.

Version 10.06.03 - Released 31st March 2010

In certain circumstances, files in which the Capital Allowances Calculator had been used were notimporting correctly into 2010: this now works correctly.

TaxCalc 2010 Launch - version 10.06.01 - released on 30th March 2009

The focus of the 2010 annual update release is the change in rates, allowances, forms and filing for the 2009/2010 tax year:

  • All 2010 legislation is now incorporated in the software
  • All 2010 rates and allowances have been applied in the software
  • All 2010 forms and supplementary pages have been included
  • All 2010 filing requirements and validations are implemented

In addition to the legislative changes above we are pleased to announce the inclusion of XBRL filing for corporation tax computations in this release. Please note that although XBRL filing is not mandated until March 2011, we have taken the opportunity to include this functionality well in advance of that date.

Full details of this function and further information regarding XBRL can be found in the TaxCalc 2010 Help file.

As well as the compliance changes and updates to on-line filing and associated validations we have included a number of enhancements including:

  • Assets with Private use are now treated as Single Asset pools in the new Capital Allowances module and are also detailed separately in the CA Schedule
  • Ability to auto-populate the repayment section with agent details to avoid having to re-enter these details for multiple clients
  • Enhanced layout for the Capital Allowances printing
  • Improved validations and messaging for SA and CT filing online

A small number of issues were reported in the last 2009 release of the software and these have been resolved. Details of these resolutions are below:

  • Capital Gains: Rollover relief is now being calculated in advance of entrepreneur’s relief
  • Capital Allowances: Small pool £1000 write off correctly populating short Self Employment

Important Notes:

  1. Due to conflict with other products the file extensions have been amended:
    • SA100 (.tcs10)
    • SA800 (.tcp10)
    • SA900 (.tct10)
    • R40 (.tcr10)
  2. Due to the date of release the some of the HMRC Helpsheets are outstanding as they were not available from HMRC; these will be included in the May TaxCalc release.
  3. Due to the date of release the Dividend Database has not been included as the full tax year data was not available. This will be released at the start of May and is available to Pre Order here.