What's new?
Products featured in this release
Tax Return Production
New 2024/25 tax
return forms
Keeping you compliant from the very start of the new tax year, Tax Return Production features updated forms, calculations, wizards and worksheets for the SA100, SA800, SA900 and R40 tax returns for individuals, partnerships and trusts.
Updated basis period
calculator
Following the removal of basis periods in the 2023/24 tax year we have updated the existing wizard to allow for the adjustments that taxpayers will now need to make every year should their accounting period not align with the tax year.
Land & property import
for partnerships
Replicating the functionality already present within our self-employment pages, it’s now possible to import partnership rental income and expenses from Accounts Production straight into the partnership tax return.
Budget day CGT
changes
As HMRC were unable to properly enact the in-year CGT rate changes announced in the Autumn Budget, they have instigated a calculation workaround that may be difficult for both you and your clients to decipher. We have therefore created a Capital Gains adjustment summary to provide absolute clarity on post-budget day disposals.
New corporation
tax forms
The CT600 form has been updated to identify R&D Intensive companies, those claiming Audio-Visual Expenditure Credit and Video Games Expenditure Credit as well as revisions to the supplementary pages CT600F (Tonnage Tax) and CT600L (Research and Development).
Updated transition
profits wizard
For those clients with transition profits brought forward from 2023/24, we have updated our existing wizard to help you perform the transitional profit calculations and distinguish them from standard profits. We have also created a bespoke report to better communicate these calculations to your client.
New partnership
allocation summary
As part of our ongoing strategy to improve the reporting capability for partnership clients we have created a new client report that breaks down all sources of partnership income and how it has been allocated to each partner.
MTD Quarterly Filer
We’re pleased to announce the launch of MTD Quarterly Filer, our spreadsheet bridging solution designed to support accountants preparing for Making Tax Digital for Income Tax. This product is now available for those wishing to participate in HMRC’s MTD for Income Tax testing phase. Visit our MTD Quarterly Filer page to find out more and register your interest in joining the testing phase.
Fetch business information
direct from HMRC
Obtain information held by HMRC about your clients’ MTD business(es) and either create, or update, the client business record within the TaxCalc database.
Create bespoke
update periods
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.
Predictive tax
calculation
Visibility of HMRC’s estimated tax calculation for the year based on business income submitted to date and other income already in their possession.
Fetch obligation and
update periods from HMRC
Create obligation and update periods within MTD Quarterly Filer automatically from the information held by HMRC.
Spreadsheet import
and data mapping
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.
External submission
visibility
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.
Practice Manager & Workflow
New MTD
client reports
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.
Bulk create VAT
return periods
Extending the existing functionality of our bulk service wizard within TaxCalc WorkFlow, it’s now possible to bulk create the VAT return periods when bulk creating jobs.
Support for Community
Interest Companies
You can now specify a limited company, limited either by shares or by guarantee, as a Community Interest Company and utilise the Companies House sync to import this subtype automatically.
Bulk create non-TaxCalc
work item periods
Also extending the existing functionality of our bulk service wizard within TaxCalc WorkFlow, it’s now possible to bulk create non-TaxCalc work item periods when bulk creating jobs.
Supporting MTD for
Income Tax
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.
Multi-office client restriction
A dedicated option has been added to the Client Restriction screen, making it easier to limit user access to specific Offices. This streamlined approach eliminates the need to configure complex conditions using the Advanced (data mining) option.
Accounts Production
Community Interest Company
It is now possible to generate the CIC report from within TaxCalc Accounts Production. The CIC report along with the CIC accounts can now be submitted electronically to Companies House via their ZIP portal (file package accounts with Companies House service). TaxCalc will create a ZIP file that can be submitted via this service. As soon as Companies House permit direct filing from 3rd party software then we will add this in too.
Removal of dotted signature line
Given the prevalence of electronic signing, the dotted signature line will be removed from the Directors Report, Strategic Report and Balance Sheet for Limited Companies, LLPs and Groups where a date of signing is entered. This avoids the accounts appearing unsigned where a wet, or replica, signature is not used.
For the full story
For a full list of updates, please see the release notes in our Knowledgebase.
Recent updates
We regularly release new features and enhancements to TaxCalc.
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