News and events from TaxCalc
As our practitioner customers will be aware, in the latter half of 2017, we released our implementation of HMRC’s new Application Programming Interfaces (or APIs). This is data that HMRC has already received from different sources which can then be fed into the tax return. This facility has proven to be extremely useful, saving our customers a great deal of time and effort.
HMRC have provided information confirming they are waiving late filing penalties or interest where the 31 January deadline is missed or payment of the correct tax is less than it should be due to the continuing errors in HMRC’s 2016/17 tax calculation. Read more for the full statement from HMRC...
Great news. Buying a house has entered the digital age. We’re not talking browsing for a new place on an online estate agent’s website - but banks and building societies.
Great news. TaxCalc now incorporates the ability to receive data directly from HMRC using HMRC’s pre-population APIs.
Once you’ve checked the data, all you have to do is click a single button and the data is fed directly into TaxCalc Tax Return Production to generate a tax return. This should save you considerable time and effort.
EVERYONE MAKES MISTAKES – EVEN HMRC!
But don’t worry. The fix is on its way.
You may already know that HMRC has made a number of changes to the Personal Savings and Dividend Tax Reform, which became effective from 6th April this year. You’ll also probably know by now that errors were made in the calculation of tax liabilities.
It’s meant that those affected are unable to electronically submit Tax Returns (if an error registers it’s called an Exclusion). Instead they have to file a paper Return, providing at the same time a ‘reasonable excuse’ form. This has proven highly inconvenient and is a potential problem that’s common to users of all brands of tax software.
But fear no more. At TaxCalc we’ve been working closely with HMRC to remedy the situation quickly.
HMRC’s latest Making Tax Digital announcement has taken the accountancy and small business communities by surprise. TaxCalc remains committed to delivering the best MTD solution to its customers, whatever the timeframe.
Every month brings us closer to the launch of Making Tax Digital. Even though the official launch date (or even year for that matter) is yet to be confirmed, you can rest assured that here at TaxCalc we’re actively engaged in developing solutions that will make the transition to MTD as hassle-free as possible. We’ve even reframed our go-to-market position as the Digital Tax People to emphasise our focus and commitment to making MTD work for businesses and accountancy practices.