Knowledge Base

TaxCalc 2013 Release Notes

TaxCalc Update - version 2.91.073 - released on 20th December 2013

TaxCalc Corporation Tax Computations

  • Addressed a calculation issue in the new CT comps (introduced on 12 December 2013) whereby for periods ending on or after 1 April 2013 and under specific circumstances, an incorrect claim of capital allowances on one or more single asset pools may be made.

TaxCalc Update - version 2.90.071 - released on 18th December 2013

TaxCalc Corporation Tax Computations

  • Fixed some page display issues within the Capital Allowances section when there are multiple pool types spanning two pages.
  • Corrected some display logic and wording in the Trading Losses section.
  • Changed the Adjusted Profit section wording to state Trading Profit / (Loss).
  • Fixed two issues where additional note text was not wrapping onscreen and in the Capital Allowances section it appeared in an incorrect place.
  • Corrected a minor typo.

General

  • Fixed an update issue which could affect users updating from much older versions of TaxCalc Hub.

TaxCalc Update - version 2.10.062 - released on 13th December 2013

NEW Corporation Tax Computations

  • IMPORTANT NOTE FOR PRACTICE USERS: Because of the following computation changes required by HMRC, please note that the IR Mark on all existing CT returns will change after the update. If you do not want them to change then you may wish to postpone the update.
  • Updated the Corporation Tax Computations to use the new HMRC iXBRL Taxonomy for periods ending on or after 1st April 2013.
  • Improved the styling, layout and pagination of the Computations for periods ending on or after 1st April 2013.
  • New Computations Management screen allows you to control which sections appear within the Computations as well as add additional notes which now allow line breaks.
  • Also made some minor improvements to the style of the Computations for periods ending before 1st April 2013.
  • Added separate field for Research and Development deductions and a wizard for Patent box relief calculations as well as some additional add back fields.

NEW Property Companies

  • Corporation Tax Computations now support Property Companies and also allow a separate wizard for Trading companies with additional property income.

Tax Return Production

  • Amended the Capital Allowance Calculator Grid to display each pool in a single column to save space and clarify the computation (on Self Assessment as well as Corporation Tax returns).
  • Fixed printing issue for one field on the CT600J (Tax Avoidance Schemes).
  • The Import return button has been moved to a more prominent position in the menu and added more information within the import wizard to help users identify the correct file to import (Individual, Partnership and Company users only).
  • Improved the wording on the Chargeable Gains section of the Corporation Tax Return to clarify what the wizard will and will not handle.
  • Added Chargeable Gains Indexation Rates up to September 2013 on the Corporation Tax return.
  • Fixed two issues within the Capital Allowance Calculator input screen - the drop down list box now defaults to the top of the list; after entering the date of purchase, tabbing will select the correct Written Down Value or Initial Cost field.
  • Fixed an incorrect calculation within the Child Benefit calculations within the What If Planner.
  • Fixed a printing issue with multiple Chargeable Assets on the Partnership return.
  • Improved validation messaging in general throughout and added more guidance in certain areas.
  • Fixed an issue with automatic additional information being added for tax avoidance schemes.
  • Added some general usability improvements to the Dividend Database.
  • Fixed a printing issue within the Foreign Tax Credit Relief worksheet.
  • Updated help throughout, including updated guidance on Child Benefit cap.
  • Fixed an issue with the Married Couple's Allowance calculations within the R40.
  • Fixed a printing issue within the foreign pages (Individual returns) whereby pages 2 and 3 were not automatically being included in the PDF and neither were multiple foreign properties.
  • Some typographic errors fixed.
  • Fixed a calculation issue within the pension input details wizard.

General / Client Hub

  • After being logged out unexpectedly, users can now log back in without the need to contact their network administrator.
  • Changed TaxCalc branding and start screen design to enhance the contrast and also bring it in-line with current branding.
  • Improved help and messaging in the application when users experience rare network connection or login issues.
  • Added compatibility with Windows Accessibility Mode options across all modules (to provide improved contrast and view options for the visually impaired).
  • Fixed an issue with R40 forms not being correctly included in the 'returns to file' section of the Client Hub.

Accounts Production

  • Improved validations regarding calculated closing balances per the comparative year against any opening balances that have been posted into the current year. The precise difference will now be displayed making it easier to correct the difference.
  • Fixed rare instance of unexpected behaviour when importing a Trial Balance.
  • Fixed an issue with the main Firm Name always appearing on the Financial Statements even if alternative details have been entered.

Mac Version

  • OS X (Mac) version of TaxCalc released for Individual, Partnership, Trust and Limited Company customers.

TaxCalc Update - version 2.9.068 - released on 20th November 2013

Accounts Production

  • New validations have been added to compare any calculated closing balances per the comparative year against any opening balances that have been posted into the current year. If there are any differences, HMRC will reject the filing of the financial statements. TaxCalc Accounts Production will alert to you to the existence of any such differences such that you can correct the balances via journal adjustment.
  • Fixed issue where dates on some notes may not appear when exported to Microsoft Word.

TaxCalc Update - version 2.9.066 - released on 4th November 2013

Accounts Production

  • LLP accounts now supported.
  • Added the ability to adjust left margins throughout the Financial Statements and to reposition the content on the cover page to fit into windowed bindings.
  • Added a justification alignment option to the Financial Statements.
  • Some minor improvements to the usability of the Trial Balance Import wizard.
  • Added the Intellectual Property class to Intangible Fixed Assets.
  • Added many new codes to the chart of account for all business types, including extra sales codes, more cost of sales account codes and additional admin expense codes  It is now possible to bring forward Accruals and Prepayments batches from a previous period.
  • Custom water marks can now be added to all reports before printing.
  • Added an optional to include extra information in the Share Capital Note.
  • Optional ability now available to include Qualification in an accountant's report.
  • Amended the balance sheet, accountant's report and director's report signature blocks to make the styling more consistent.
  • More notes content (pluralisation, year and period references) is now automatically populated.
  • Revised the Audit report wording for periods starting on or after 1st October 2012.
  • Greatly improved the opening speed / performance of the Notes window.
  • Added the ability to change the date format displayed within signature blocks.
  • It is now possible to mark a set of accounts as 'Amending' with appropriate statements made to the cover page.
  • Fixed a few minor issues within the Bring Forward Notes function.
  • Changed Share Capital Notes to display values to three decimal places.
  • The accountant's report can now be included with the abbreviated accounts.
  • Improved wording and logic on several validations so that they are more explicit and relevant.
  • Fixed a rare rounding issue which caused an imbalance in the balance sheet.
  • Various minor improvements to the layout, underlining and spacing within the Financial Statements and other reports.

General

  • Portable Mode added as a new Beta function (currently available on request) to the Professional Network software. This function allows Network users to 'check out' returns and client information from the main network database and work on it remotely.

Tax Return Production

  • Fixed some issues within the Professional synchronisation of Tax Return to Client Hub tool.
  • Fixed an issue within the AIA validations when spanning the 2012–13 financial years.
  • Updates to the tax help throughout.
  • Other minor and rare bugs squashed.

Other

  • Fixed bugs within the Migration Tool for Professional users moving from a Standalone to Network system (tool is available by contacting TaxCalc Support).
  • Added the ability to print pages from the help file.
  • Other general styling and typographic improvements throughout.

TaxCalc Update - version 2.8.026 - released on 20th August 2013

General

  • **NEW FEATURE** A Customise Client List window allowing you to control the columns that you see on your Client Hub.
  • **NEW FEATURE** More optional columns can now display on the Client Hub (Accounts status and 64-8 status). 
  • Enhanced the login process to allow non 'admin' user accounts (if any) to log in without first requiring the 'admin' user to log them out (after, for example, a power cut).
  • Improved handling of proxy servers (if applicable).
  • More feedback is now provided in the application loading screen, so that it does not seem as though the application is not responding (particularly when starting after applying an update).
  • Added a warning prompting users to back up their database before running an update if a recent backup does not exist.
  • Users may now reset their 'admin' account password without needing to contact TaxCalc Support.
  • Fixed some issues affecting the application startup being slow or halting (on rare occasions).
  • Improved the user interface to better handle smaller screen resolutions and keep navigation buttons on screen at all times.
  • Fixed an issue affecting Individual users whereby some returns were appearing twice on the homescreen.

Enhanced Integration

  • **ENHANCED FEATURE** Major changes to the SA800 (Partners) and SA104 (Partnership income) screens. The user interface and associated behaviour has been enhanced to add further integration and make these screens feel more intuitive.
  • **NEW FEATURE** Import information from the related financial statements into the CT600 return (including a wizard for adjusting long periods of account)
  • **NEW FEATURE** Synchronisation wizard within Tax Return Production to compare information (name, UTR and so on) within the return against the information in the Client Hub and allow this information to be synchronised (avoiding the need to enter it twice).
  • **ENHANCED FEATURE** Client addresses can now be added (and amended) through the Tax Return Production and Accounts Production modules without needing to update them within the Client Hub.
  • **ENHANCED FEATURE** Create client relationships within the Tax Return Production and Accounts Production modules (as well as from within the Client Hub, as before).

Tax Return Production

  • **NEW FEATURE** Ability to add system-wide tax and accounts statuses for your clients.
  • Fixed some issues when importing clients from tax returns (improved speed of importing and other general fixes to unexpected behaviour in rare circumstances).
  • Improved the What If planner in the following areas: Personal Allowance restriction for income over £100,000; CGT Entrepreneurs' Relief; the removal of claims to reduce Payments on Account.
  • Added a note regarding Capital Losses being used to the Capital Gains screens, so that the summaries explaining use of losses can be located more easily.
  • Tax returns now save automatically after successful submission to HMRC.
  • Fixed issues with validations and calculations of Annual Investment Allowance claim.
  • Fixed a printing issue whereby the Foreign Land and Property schedule only displayed details of the first property.

Forms

  • Several improvements to the 64-8 (Agent Authorisation) forms have been made to improve integration and allow automatic population of client information from the Client Hub.

Accounts Production

  • Added the ability to print out a watermarked copy of Financial Statements in the Accounts Production Trial product.
  • Added some additional share classes (types E and F) to the Limited Company accounts.
  • **NEW FEATURE** Ability to export all Accounts reports (Audit Trail, Nominal Ledger and so on) to Excel for further customisation.
  • **NEW NOTE** Current Asset Investments.
  • Amended Trial Balance report variances, as they were showing some credit balances as 'decrease' when they were 'increase'.
  • Fixed a rare issue with the iXBRL tagging within the Capital Grant note which prevented online filing.

Other

  • General updates to some of the Help pages.
  • Some general application wording and typos corrected throughout.
  • Various smaller corrections throughout.

 

TaxCalc Update - version 2.7.001 - released on 16th July 2013

General

  • The first run wizard (for Professional users) has been amended to automatically allow users to skip the login password feature. Further guidance for existing single users as to how to turn the login option of has also been added.

Tax Return Production

  • Fixed an issue with the Capital Allowance Calculator, where after updating to version 2.6.028 of the software, opening a return caused the removal of any manual entries in Disposal Proceeds which would need to be re-entered on the Capital Allowance grid.
  • Also fixed an erroneous validation error which was incorrectly appearing in the same area.

Accounts Production

  • Fixed an issue with the alignment of hyphens within the Financial Statements (they were appearing center-aligned and are now right-aligned, as expected).

 

TaxCalc Update - version 2.6.030 - released on 5th July 2013

General

  • Fixed unexpected behaviour when updating (only occurs in very specific cases).

Tax Return Production

  • Updated the Corporation Tax Marginal Relief Fraction (MRR) for FY13.

TaxCalc Update - version 2.6.028 - released on 2nd July 2013

Client Hub

  • Fixed an issue within the Client Hub and Tax Return production modules where an inconsistent use of Male/Female and Title could import the wrong gender into the tax return. This is now validated to prevent user errors.
  • Added more information in the About box to help users locate the database (for automatic backup routines).
  • Amended the client questionnaire so that it can be produced even if there's no previous year return (along with some other improvements to the questionnaire content itself).
  • Amended the refresh of tax return status, so that status can be updated from return files that are updated via the cloud.
  • Fixed an issue with the Mail Merge where commas in data items (an address, for example) would prevent the merge from completing.
  • Fixed an issue where archived clients were being included in the analysis of tax returns (started / not started, filed / not filed). Archived clients are now not included.

Accounts Production

  • **NEW FEATURE** Added an historical Trial Balance report (up to five years), including variance comparison between any two periods.
  • **NEW FEATURE** Added the ability to check the status of all Pending Companies House submissions automatically, and also added a reminder that there are Pending submissions.
  • Trial Balance Import does not import blank lines or zero values any more.
  • Fixed an issue where the opening balance could not be brought forward on 'Limited by Guarantee' company accounts.
  • Added a validation to the Turnover by Principal Activities note, to ensure that the note analysis matches the total posted sales income.
  • Amended the category grouping in the chart of accounts for sole trader and partnership accounts to improve clarity.
  • Fixed an issue with the tangible fixed assets line including intangibles on the statutory P&L.
  • Fixed an issue with the closing stock value appearing in the wrong column on sole trader accounts.

Tax Return Production

  • Some minor amendments to the Dividend Database data set to add some missing dividends.
  • Fixed an issue within the AIA calculations in the capital allowance calculator where an extra day was calculated.
  • Added the FY13 AIA calculations to the capital allowance calculator.
  • Fixed a calculation error concerning Class 4 NIC exemptions in the What If planner.
  • Fixed a display issue regarding tax over/under paid on the What If planner results summary page.
  • Fixed a potential issue with the Partnership integration with Client Hub (causing the link to break).
  • Fixed an issue with the printing of the Additional Information on page 7 of the core SA100 return.
  • Fixed an erroneous validation regarding reduced age-related allowances, when the taxpayer is non-resident and does not qualify for personal allowances.
  • Added a validation to the tax return when trying to import accounts reported in Dollars or Euros into the Self Employment pages.

Forms

  • Fixed agent reference importing into the SA303.

General

  • Ensured that some 'browse for file' dialogs now remember the user's last folder and default to the My Docs folder (instead of Temp folder).
  • Added Tab names for forms tabs (eg: 64-8) so that it is clearer which tabs are currently open and improved the clarity of the accounts tabs.
  • Link to the online Frequently Asked Questions now correctly points to the 2013 FAQs.
  • Various other minor fixes, text changes and maintenance / stability improvements.

TaxCalc Update - version 2.4.009 - released on 5th June 2013

Dividend Database, Value Added System and What If Planner

  • This release includes the Value Added System for accountancy practices which includes the What If Planner and updated Tax Tips and Planning, accessible to all users who have a valid licence.
  • For Individual, Business and Limited Company users, this update includes the What If Planner, accessible to all users who have paid for it.
  • The updated Dividend Database, accessible to all users who have the licence, is also included in this release.

Client Hub

  • Added an option to import new clients from a CSV file. This allows for quick migration of client data from other software.
  • Added certain tax fields to the Mail Merge function, so that items such as Payments on Acounts, Total Tax, Total Income, etc, can be included in your merge. Currently only the SA100 return tax fields are supported, for the current (2012-13) tax year only. Other return types and years will be added in future updates. 
  • Import of TaxCalc return files has been improved to give the user a greater degree of control and assistance. The Import functionality will now allow users to automatically exclude existing clients from a multiple file import. This allows non-networked users (for example those users who share files via Dropbox or other cloud-based systems) to synchronise their data with colleagues more efficiently.
  • Added a new option under the top menu View option: Refresh Return Status. This option allows you to quickly check the online filing status of any returns which are saved outside of your file system, without needing to open the return (again, this simplifies the process for users who share files via cloud based systems and are not all using the same network database).
  • Added the following optional columns to the main Client Hub table:
    • 2012 Return Status.
    • Date/Time tax return was last updated (for 2012-13 Self Assessment years, as well as CT returns).
  • Fixed an issue with the CT file status where it would not always update correctly in the Tax Filter panel.
  • Improvements to the Client Questionnaire: Added headers and footers to all pages.

Accounts Production

  • New Feature: Added the ability to import a trial balance from a CSV file. The TaxCalc Smart Import Wizard allows you to easily map the account codes from a CSV file and import the postings into Accounts Production. Once mapped, the import can be run again for all of your clients. Multiple import maps can be easily created to allow you to import from different packages and for different client types.   
  • New Feature: It is now possible to produce accounts for Companies Limited by Guarantee.

Tax Return Production

  • Added an option in the Administration settings for Tax Return Production to set a system-wide default for handling client repayments on the SA100 returns. When a repayment is due, users can set TaxCalc to always set the refund against future tax or always claim it (this can then be specifically changed within each return, as required). 
  • Tax-related Help updated for the 2012-13 Self Assessment year.
  • Fixed an issue concerning an incorrect R40 file extension when saving the file outside of the database. This did not cause an issue within the application itself but required fixing for consistency.
  • Fixed erroneous validation messages that were appearing in the SA100 Furnished Holiday Lets section and also within the new Child Benefit section. 
  • Fixed an issue where calculations were not automatically updating when the period dates were changed on the SA100 Self Employment pages. 
  • Fixed an issue that forced use of a wizard process for the box AIL8 (Pension Savings) field.

General

  • Improvements to the handling of proxy servers and added the ability to store username and password authentication for the proxy.
  • Added the ability to remember your password for the professional login screen, to speed up login time.
  • General improvements to the update process to prevent unexpected errors.
  • General wording and styling fixes.

TaxCalc Update - version 2.4.006 - released on 10th May 2013

New Feature - Tax information panel now available in Client Hub

  • Professional users will now have a tax panel at the bottom of the Client Hub screen. This displays the number of clients:
    • who do not have returns
    • who do have returns
    • whose returns have been submitted
    • whose returns have not yet been submitted.
  • Note: There is an outstanding issue with this panel for users of the Network version, as the number of Corporation Tax returns filed will not update at present. This will be fixed in an update shortly.
  • Tax Work Status report now functional within the software.

General

  • Addressed unexpected behaviour whereby the application would not start when Internet access has been disabled on a machine.
  • Updated the wording of the Import Client screens to further clarify the process.
  • Updated the main window geometry to allow the application window to be reduced below the minimum resolution of 1024 * 768, if required.

Client Hub

  • Added a new validation for company clients to remind the user that they have not related any directors yet. This is only mandatory for Accounts Production users and can be ignored, but will provide additional integration benefits in the future.
  • Updated the default tax return status for new returns from Not Started to In Progress, as this should be more meaningful to users.
  • Fixed some incorrect or absent fields within the Client Questionnaire.

Accounts Production  

  • Fixed a typo within the Share Capital note on the accounts.

Tax Return Production

  • Removed the disallowable expenditure column from the Self Employed expenses wizards when the Short form is being used, as they are not relevant.

  • Resolved an issue with inadmissible characters being allowed in text fields. The application will now remove any inadmissible characters automatically.
  • Fixed unexpected behaviour when opening tax returns which affected a handful of users (with unusual Windows user profile configurations).
  • Added the IRMark and page numbering to the top of the new SA100 Page 7 and Page 8 when printing the client's tax return.
  • Removed reference to donating repayments to charity from the cover page when printing the client's copy of the return, as this is no longer relevant (please note that existing users will need to download and run the installation again if they wish to remove this reference).
  • Resolved an issue whereby the Joint Income import was not importing for users of the Professional Network version.
  • Updated a validation which was incorrectly appearing for some users when attaching iXBRL accounts produced by another software provider.
  • Updated the Capital Allowance calculator to cater for (and display) the new 18% and 8% allowance rates.

TaxCalc Update - version 2.3.010 - released on 25th April 2013

General

  • Fixed an issue with the import routines where a long (custom) title present in a 2012 return that prevented it from being imported. 
  • Added the ability to enter a custom title for an individual client within Client Hub.
  • Improvements to screen dimensions to allow more content to fit on screen at low resolutions (1024 x 768).
  • Improved the visibility of the inactive tabs on the tab bar.

New Features - Turn off the Login Window and Automatically open the Client Hub

  • Customisation functions have been added to the Applications area in the Administration application to turn off the login screen for single users and open into Client Hub from launch.
  • For a guide on enabling these new features please click here.

New Features - Ability to customise the Client Hub screen with tax return information

  • Added the ability to show/hide the information panel on the right to increase screen space.

  • Added the ability to show/hide columns in the Client Hub screen and re-size existing columns.
  • Added new columns to Client Hub screen for: UTR, Current 2013 Tax Return Status, Latest Corporation Tax Return Status.
  • For a guide on using these new features please click here.

New Features - Ability to easily save tax returns to your file system instead of within the database

  • Files can be saved into your file system without needing to use the export function.
  • When creating a new return, you can choose to save it straight to your file system instead of within the database.
  • You can now import and create clients using an existing 2013 return (as well as 2012 returns).
  • For a guide on using these new features please click here.

Accounts Production  

  • Fixed an issue whereby a set of accounts with a rounding difference was only automatically applying the rounding logic after closing the Postings dialog. This was leading to rounding issues when closing and re-opening the accounts.
  • Removed erroneous text "Ap" that could appear in the financial statements.

Tax Return Production

  • Firm and user email address were not always populating automatically into the file online screen within the return (affected Professional Users only).

  • Logging out (as opposed to simply exiting the application completely) was not prompting you to save the most recent changes (affected Professional Users only).
  • Added a large font option to the Tax Return screens (accessible through the View > Text Size menu option).
  • Fixed an issue with CT600 rounding being out by 1p on some returns, which prevented online filing.
  • Changed the naming of the Car categories within the Capital Allowance calculator to reflect new percentage rates.
  • Changed the Wear and Tear wizard to round up to the nearest pound, as this is now allowed by HMRC.
  • Included Child Benefit entry in the Client Questionnaire.

TaxCalc 2013 Initial Release - version 2.1.071 - released on 2nd April 2013

TaxCalc has been fully updated for the 2012-2013 tax year. The application has undergone a substantial improvement programme and now features:

  • A new front-end for non-practice customers, which simplifies the creation and management of tax returns.
  • Multi-year capability, meaning that successive tax years will be built into the same application, eliminating the requirement to install a new application each year.
  • A built-in updating mechanism, so updates throughout the year do not require a full reinstallation.
  • A new licensing model for practice customers, giving twelve months of access to supported tax years.
  • A new tabbed working environment, meaning you can have multiple tax returns open at once and for practice customers, different applications such as Client Hub and Accounts Production.

Practice customers will find that TaxCalc Pro is now part of TaxCalc Hub, providing a full Practice Management module in the form of Client Hub (complete with Task Management, Mail Merge and Reports functionality). TaxCalc Hub facilitates the ability to share data between applications, enabling accounting data from Accounts Production to be pulled directly into a tax return, linking tax returns between clients (such as an SA800 Partnership return with SA104 pages of an Individual return), sharing information about a client (such as name and address) to pre-populate any HMRC non-tax return form (such as a 64-8) and more. Integration will be continually updated and improved in future releases.

Practice customers will also find that they are greeted by new First Run and Client Data Import wizards, to get set up and running as quickly as possible. Now that the software can handle multiple tax years, you will only need to do this once.

Practice customers - where to find certain client management features

We've taken the opportunity to consolidate some of the client management functions of the legacy TaxCalc. Quite often, similar functions were accessed in different ways and so we've brought them together.

  • Forms such as the 64-8, SA303, CWF1 and so on are now all accessed through the HMRC Forms application.
  • The Client Questionnaire has been relocated to the Mail Merge section within Client Hub.
  • Letter Writing has been replaced with the more powerful Mail Merge.
  • The Data Mine function has been removed pending a more powerful replacement. It will become part of the Mail Merge and Reports functions, enabling you to create and save dynamic searches to choose clients that meet certain criteria.
  • The ability to filter your tax returns by work status has been replaced by a more powerful Reports module, which will enable you to produce reports on your clients, tasks, work progress and more.

Tax Calculation and Return Production

Key changes include:

  • Fully updated for the 2012-13 Income Tax year and FY13 Corporation Tax year.
  • The SA100 Individual Return will assess your income for Child Benefit Tax purposes and calculate a charge accordingly.

Specific functionality included for non-practice customers:

  • New "Welcome to TaxCalc" window to help you get started with the software.
  • New "Year/Application" chooser screen to select the tax year you want to create a return for. We have plans to add the What If? Tax Planner to this screen, making it easier to find.
  • All tax returns and forms that you have created are now presented to you on one screen, rather than multiple screens per type of return.
  • New tax return "icon view" mode, so you can see your returns at a glance in a more graphical way. You can switch into "list view" mode to see your returns in a similar method to the legacy software. 
  • Easy reading mode, which will increase the size of all text larger on the screen (will be applied to practice customers if there is demand). This replaces the legacy application's zoom settings.

Specific functionality included for practices:

  • TaxCalc is now a multi-user system, requiring you to log in using an account name and password. This adds a layer of security to your client data, preventing access from unwanted parties. The default account name is "admin" and if you lose your password, we can reset it.
  • TaxCalc now stores core client data within the Client Hub application, meaning you should set up your client there before opening in the Tax Return Production application. You'll see that TaxCalc is now supports multiple years of tax returns, dating back to the 2011-2012 tax year (CT can go back to FY07).
  • TaxCalc now uses a database to store data, which ensures your data is always kept up to date, cannot go missing and means that backing up produces one password encrypted file for all of your client data. For firms that want to store tax returns as files or share tax returns with subcontractors and associates for completion, you can export and store tax returns outside of the database and import them back in again, if you so wish.
  • TaxCalc now offers a fully networked, database option, which is available upon request. This version will ensure the distribution of client data across your network. In an update due in the summer, computers on your network will be able to download client data to a local database, disconnect from the network and work offsite.
  • Tax returns now carry forward data from an older return at the point that you create the new return.
  • Sole Traders and Partnership returns can import profit and loss and balance sheet data directly from financial statements created within Accounts Production.
  • Users can attach iXBRL accounts created within Accounts Production to the return without needing Accounts Production open.
  • Creating relationships between Partners and Partnerships facilitates the import of data from the SA800 into the SA104 pages.
  • Creating relationships between spouses facilitates the import of joint investment income between SA100 returns.
  • You can quickly switch between clients and applications using the Action button, found towards the top right of a window (it looks like a cog). The button also contains some context-sensitive commands, such as locking a tax return from editing.

Client Hub

The following improvements have been made to the Clients function:

  • Individual clients are now presented in the "surname, first name" format as per our legacy software.
  • Users can now open tax returns and other HMRC forms from within the Clients screen.
  • Tax work statuses can now be applied to each tax return that has been created for a client.
  • Now that Tax Return Production is part of the same application, there is no need for TaxCalc Bridge and so it has been removed.

The following improvements have been made to the Task Management function:

  • Recurring tasks can be set on a quarterly basis.

The following improvements have been made to the Mail Merge function:

  • Introduction of the Client Questionnaire, which can produce a letter to be sent to clients that will ask them to gather information to help you complete their 2012-13 tax returns.
  • A typo discovered on the "Approval of Limited Company Accounts and Corporation Tax Return" template has been rectified.

The following improvements have been made to the Reports function:

  • Introduction of a new Work Status report type, which can be used to keep on top of the progression of accounts and tax work in your firm. The reports can determine whether a tax return needs to be done even if it hasn't been created yet.

Accounts Production

The following improvements and fixes have been made to Accounts Production:

  • Issue on the director's remuneration note where benefits in kind text could sometimes not be disabled has been resolved.
  • Any directors that were active after the year end can now sign off the directors' report and balance sheet.
  • Amended the signing off statement on Partnership financial statements.
  • The SNF export to third party tax software now includes the client's name. 
  • Amended the way that a sole trader's trading name is presented on the accounts.
  • Amended the Debtors lead schedule for Sole Traders to include "Prepayments and accrued income".
  • Improved presentation of Check and Finish.

HMRC Forms

  • This release introduces a new HMRC Form module, which is where you can access forms such as the 64-8, SA303, CWF1 and CT41G.

General Improvements

Over the years, we've been asked for a variety of general improvements and have implemented the following:

  • The software now remembers its window size when you close it.
  • The menu items in the menubar has been tidied up.

Important Notes:

  1. HMRC do not publish the final forms or Helpsheets until 6 April. Where drafts forms and Helpsheets have been the published, this initial release version will include these and may be subject to change. Our first update in mid April will include the final forms and Helpsheets.
  2. The Dividend Database, Value Added Module and What If? Tax Planner have not been included as the full tax year data is not available at time of release. Our update in May will include these add-on modules.