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Step-by-step Guide

What's new?

New for winter

Time to get productive!

We're delighted to unveil our Winter Collection of product enhancements,
engineered to maximise your productivity this forthcoming Tax Season.

And what better way to efficiently monitor that productivity than with our newly improved
time recording module: Time.

Plus, you’ll see an early appearance of our 2023/24 Client Questionnaire for those already
thinking ahead to next year!

Time

TaxCalc Time updates
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Ability to pause and
restart the time tracker

Having the ability to pause and restart the Time tracker allows more control over what time is logged. You can now pause a time log when you switch to an alternative task, or when you need to take a break, and simply restart the timer when you return.

If you switch to another item of work e.g. between preparing the accounts and completing a tax return, you can pause the timer on the current work item, then start on your alternative task without having to save and post the original time log to your timesheet.

Allowing the timer to be paused and restarted prevents the need to have multiple logs for the same item of work on the same day unnecessarily.

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Option to
keep working

When clicking ‘Stop’ on any active time tracking, you now have the option to ‘Keep working’ rather than post that time to your timesheet and restart a new log. A further enhancement to prevent multiple logs for the same item of work on the same day.

Tax Return Production

Tax Return Production updates
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Batch Filer extended
to include CT600s

Our popular Batch Filer add-on has for many years allowed customers to queue up Self Assessment Tax Returns and send them to HMRC in a single submission, saving time and effort. We’ve now added the ability to do the same for Corporation Tax Returns.

We’ve also made significant improvements to the user experience, making it easier for customers to select relevant clients, see the IR marks, receive in-app notifications and save all the FBI receipts in bulk.

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Ability to itemise other
outstanding liabilities

Tired of explaining to clients why your tax calculation differs from the amount being requested by HMRC? You can now list out all those minor adjustments, such as outstanding interest, penalties or liabilities from an earlier year on the Tax Payment/Repayment Summary. We also now display any overpaid Capital Gains Tax, where appropriate.

Improved integration with
TaxCalc Accounts Production

There’s a new option for those producing partnership accounts to populate the Partnership Tax Return with either summary or detailed information. For individuals, entertaining costs and late payment tax charges will be populated and disallowed on import from TaxCalc Accounts Production. For companies, charitable and political donations are now mapped to their own category in the adjusted profits computation on import. Plus the Corporation Tax journal has been enhanced to include the s455 tax journal on loans to participators.

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New reporting pack
for clients

This release includes some great new reports to share with your clients to help them better understand their tax position (and avoid them coming back to you for explanations!).

  • Our National Insurance Contributions report clearly outlines how Class 2 and Class 4 NIC has been calculated. This one will be just as useful for your team as it will your clients.
  • Our Pension Contributions and Relevant UK Earnings report displays a breakdown of Total Relevant UK Earnings versus Gross Pension Contributions made. We also alert the user in Check & Finish when pension contributions exceed the maximum.
  • Our Land & Property Summary now shows both the income and expenses in total as well as the individual client’s share when the Joint Property Income Wizard is used. Great for validating whether the client provided the totals or just their share.

New Check & Finish® alert for R&D
Additional Information Form (AIF)

From 8 August 2023, R&D claimants must complete and submit an Additional Information Form (AIF) to HMRC in advance of submitting the Corporation Tax Return. As 50% of all R&D claims since that date have been rejected by HMRC, we’ve included an additional Check & Finish® validation to remind users to complete and submit the AIF.

Accounts Production

Accounts Production updates
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FRS 102 MLA extended to
include medium and large LLPs

Following our much-anticipated release of FRS 102 MLA – Medium & Large Accounts for individual companies back in Spring, this release adds the ability to prepare accounts under the full FRS 102 standard for Limited Liability Partnerships.

Existing TaxCalc Accounts Production customers will recognise the ease of use, customisable reporting and fully automatic iXBRL tagging to which they have been accustomed in the core product. This enhancement also paves the way for future development of our Group and Charity formats in the near future. Watch this space!

Extended financial statements
drill down facility

During 2023 we significantly enhanced the capabilities of our Edit Mode option in the Financial Statements so that you can easily make amendments on-the-fly or navigate to the source posting. This release sees our drill-down facility extended even further to enable navigation straight to the source for figures generated in the Edit Notes screen, further speeding up review and finalisation of your clients’ accounts.

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Advanced disclosures
for FRS 102 s1A LLPs

With FRS 102 MLA – Medium & Large Accounts, you now have the option to apply any of the additional disclosures from the full FRS 102 standard to your FRS 102 s1A LLP accounts, including the cash flow statement and the ability to create tables and additional text disclosure within notes.

Improved integration with
TaxCalc Tax Return Production

There’s a new option for those producing partnership accounts to populate the Partnership Tax Return with either summary or detailed information. For individuals, entertaining costs and late payment tax charges will be populated and disallowed on import to the Tax Return. For companies, charitable and political donations are now mapped to their own category in the adjusted profits computation on import. Plus the Corporation Tax journal has been enhanced to include the s455 tax journal on loans to participators.

Practice Manager

Practice Management updates
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Client tax questionnaire
2023/24 update

Finished all your 2022/23 tax returns already? We have updated the client tax questionnaire – three months earlier than usual – so that you can get a head start on preparing your requests for tax information before the beginning of the new tax year.

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New filter for Companies House
sync wizard

This filter will show ‘recent’ directors who were officers during the past financial year, right up to the date of the sync. It will therefore include any directors who have been appointed or removed during the last financial year, as well as those appointed or removed since the year end date.

This allows easy verification of appointments and removals and importation only of relevant directors.

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Bulk creation and linking
of Work Items to Jobs

Practice Manager Plus users can now benefit from the automatic creation of accounting periods in TaxCalc Accounts Production and Corporation Tax periods in TaxCalc Tax Return Production when creating Jobs in bulk. This is in addition to the existing ability to create and link Self Assessment Tax Returns in bulk.

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Create new custom
user roles

It’s now possible to create as many custom user roles as your practice requires, such as Client Manager, VAT Manager or Payroll Manager. Team members can be allocated multiple roles and clients can be assigned multiple team members to support their needs. Reports and dashboard widgets can all be filtered, based on these new user roles, to give greater visibility over your team and your clients.

Additional support for multi-office environments

In order to better manage your data, it’s now possible to bulk assign clients to the appropriate office to which they belong. It’s also possible to restrict user access only to clients of a particular office in bulk, rather than one by one, and filter reports and dashboard widgets by office.

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Quick access Notes option on
Jobs and Tasks dashboard widgets

Stay on top of what is happening on any particular Job or Task at hand. Hover over our new Notes icon and a tooltip will appear showing the latest note relating to that Job or Task on the client record. Click on the new Notes option and navigate straight to a pre-filtered list of notes for that particular activity type.

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Bulk deletion of Jobs
and Tasks

We recognise that firms change their internal processes over time; or even experiment with our bulk creation tools to see how they work. Our new bulk deletion facility provides customers with greater flexibility to remove Jobs and Tasks en masse when no longer required.

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Bulk update custom fields
on the client record

To assist with the continued management of clients, Practice Manager now includes an option to bulk update the client record for Office, User role and any dropdown or tick box type custom field. This enhancement will remove any barrier to implementing our powerful custom fields across your entire client base.

Assign Jobs and Tasks
to a custom user role

Practice Manager customers will already be familiar with the ability to assign Jobs and Tasks either to an individual user, portfolio manager or to a team. With the ability to assign Jobs and Tasks to a custom user role, you can define the responsibilities for all the different stages of a job, without having to identify any named member of your team from the outset. If a client, or clients, are assigned a new VAT Manager or Payroll Manager, for example, then all future Jobs and Tasks will automatically be assigned to the new team member responsible for those clients.

Communications Centre

Communications Centre
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Support for
document type .doc

Our bulk Client Questionnaire facility within TaxCalc Tax Return Production outputs as a .doc file which previously was not one of the supported file types for attachment to email messages within TaxCalc Communications Centre. We are pleased to announce that it is now, meaning an improved workflow for sending out Client Questionnaires.

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Suspended users excluded
from Communications Summary

We now only display current users within the ‘User emails’ widget of the Communications Centre dashboard. This keeps lists up to date, lean and easier to review.

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New custom user token for
mail merge and send message

We have created an additional token for our new custom user roles, so that members of your client team can be dynamically populated in template letters and emails.

eSign Centre

eSign Centre
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Only current relationships display in recipient list

When creating a new envelope, the list of Recipients has been updated to only show the current
relationships e.g. current Directors and Company Secretary.

This reduces the risk that documents will be sent to a recipient who is no longer an active officer of the company.

VAT Filer

VAT Filer
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New VAT Account API to fetch information
on penalties and surcharges

Our new VAT Account allows you to see outstanding liabilities, penalties, notices, charges and surcharges for all clients for whom you are the authorised agent for VAT, irrespective of whether you filed the VAT returns using TaxCalc VAT Filer, including how and when the penalties or surcharges were issued.

For the full story

For a full list of updates, please see the release notes in our Knowledgebase.

View release notes

Recent updates

We regularly release new features and enhancements to TaxCalc, take a look at our previous release.

See our previous release