We’re excited to introduce Charity Accounts in TaxCalc Accounts Production – a powerful new module designed to make producing SORP-compliant charity accounts simple, intuitive and efficient. Whether you're an accountancy practice acting for charity clients or a charity preparing your own accounts, this release brings flexibility, automation and clarity to your workflow.
And let’s not forget MTD Quarterly Filer, our spreadsheet bridging solution designed to support accountants preparing for Making Tax Digital for Income Tax, has now met HMRC’s standards for use with live clients.
Install the update today and start benefiting from the latest features right away.
Our exciting new product release for 2025 provides the ability to prepare SORP-compliant accruals accounts for Charitable companies (limited by guarantee), Charitable Incorporated Organisations and Charitable Unincorporated Associations.
Existing Accounts Production customers will recognise the ease of use, customisable reporting and suite-wide integration they have been accustomed to in the core product.
For flexibility, and to cater for various sizes and structures of charity, there is no restriction on the number of funds (restricted, unrestricted and endowment) and activities that can be prepared, as well as easy fund and activity maintenance.
In addition to the standard FRS 102 notes, charity specific notes such as reference and administrative details, Report of the Trustees, Independent Examiners Report, SOFA, Cash flow statements and other charity specific disclosures are included.
We have added the ability to show funds and activity breakdowns in both the trial balance and nominal ledger to allow efficient review of the accounts, analyse where entries have been generated from, and adjust and correct any figures accordingly.
As well as our traditional posting batch, now updated to allow for funds and activities to be set against a posting, our new accounts-style posting batch provides a view which categorises the postings as they would be displayed in the report, providing the familiar layout of the SOFA and Balance Sheet, with the ability to allocate postings for any of the funds and charitable activities.
Drill down from figures on the charity accounts directly to the constitute totals for the fund and activity totals and edit them directly from the source entries and update the report.
The Charity Accounts add-on benefits from integration with other TaxCalc applications such as attaching accounts to the CT600, signing documents electronically, automatically updating jobs and saving reports directly into Document Manager.
Charity client types of Charitable company (limited by guarantee), Charitable Incorporated Organisation and Charitable Unincorporated Association have been added to Practice Manager and can now be used across the application.
To optimise performance when viewing work as the volume of users, clients and work items increases, a new page view option controls the number of items being displayed on the screen at any one time; resulting in much faster screen loading times.
MTD quarterly update periods can now be monitored and managed effectively through Practice Manager and WorkFlow as we have included a new Service, Activity Type and Work Statuses. We have also created new reporting fields for the different types of MTD business income.
With the introduction of the new charity client types, the Companies House sync wizard has been updated to include charitable companies limited by guarantee.
Identify which of your clients are potentially brought into the MTD for Income Tax regime from April 2026 based on 2023/24 income and those that are certainly brought in based on 2024/25 income.
We’re pleased to announce that MTD Quarterly Filer, our spreadsheet bridging solution designed to support accountants preparing for Making Tax Digital for Income Tax, has now met HMRC’s standards for use with live clients and we are on the ‘Available Now’ section of the HMRC software choices webpage for MTD for Income Tax. Visit our MTD Quarterly Filer page to find out more.
Obtain information held by HMRC about your clients’ MTD business(es) and either create, or update, the client business record within the TaxCalc database.
For those wishing to test out their processes with a little more regularity than once per quarter, we have the ability for you to submit updates weekly, monthly or as often as you wish! You can also report on the status of each individual update and the overall obligation period.
Visibility of HMRC’s estimated tax calculation for the year based on business income submitted to date and other income already in their possession
Create obligation and update periods within MTD Quarterly Filer automatically from the information held by HMRC.
Use your existing bookkeeping spreadsheets to import the relevant MTD information for filing. Mapping information can be saved so the information goes to the right category every time.
Even for clients for whom updates are being submitted in other 3rd party software, you will be able to keep an eye on proceedings and retrieve the most recent submission details within MTD Quarterly Filer.