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What's new?

All set for the new tax year

Every year our teams work tirelessly to ensure you’re fully prepared for the new tax year. Our 2021/22 update is now out – so you can file with HMRC from day one without losing momentum.

As well as compliance updates in Tax Return Production and Accounts Production to keep you ahead of the game, our latest release comes with other improvements to improve your workflow and day-to-day efficiency. Little wonder that our Tax Return Production and Accounts Production products yet again came out on top in the 2022 Accounting Excellence Software Awards.

Latest updates

Tax Return Production

Tax Return Production updates

New 2021/22 tax return forms Highlight

Keeping you compliant from the very start of the new tax year, Tax Return Production features new forms, calculations and wizards for SA100, SA800, SA900 and R40 tax returns.

Updates to the CT600 V3 – 2022 Highlight

We’ve included the latest rates and calculations for the new financial year and updated to the latest version of the Corporation Tax Return form and the supporting supplementary pages in line with HMRC’s latest requirements. Specific changes have been made to the following supplementary pages:

  • CT600B – Controlled Foreign Companies
  • CT600L – Research and Development

In addition to the new forms, we have further enhanced our Corporation Tax Computation to give greater detail within the Capital Allowances Schedules. The computation now includes an ‘Additions and Disposals Report’ to provide greater analysis of the final values.

Accounts Production

Accounts Production updates

New 'Non-resident landlord'
option Highlight

Following HMRC changes in April 2021, non-resident corporate landlords must now submit a CT600 instead of declaring the relevant information on a SA700. With this new option in Accounts Production, you can now produce Non-Companies Act specific FRS105 or FRS1021A accounts automatically and create the correct iXBRL file to attach along with the CT return.

Taxonomy updates

Keeping you compliant without you even having to think about it, your software will automatically update to reflect the FRC and HMRC’s most recent iXBRL taxonomy specifications.

FRC 2021 Taxonomy – updated for periods after 31/03/2022 to use the 2021 taxonomy.

DPL 2021 Taxonomy – updated for periods after 31/03/2022 to use the DPL 2021 taxonomy.

Advanced rounding

We’ve taken care of rounding differences, so you don’t have to. We’ve introduced additional 'advanced rounding rules' to correct any rounding differences between ‘brought forward’ and ‘carried forward’ balances. This applies to:

  • Profit and loss reserve (Ltd)
  • Capital accounts (sole trader/partnership)
  • Loans and other debts due to members (LLP)
  • Reserves
    • Share premium (Ltd)
    • Revaluation reserve (Ltd, LLP)
    • Capital redemption reserve (Ltd, LLP)
    • Other reserves (Ltd, LLP)
    • Fair value reserves (Ltd)
    • Called up share capital (Ltd)

These groupings will be automatically adjusted to prevent discrepancies, removing the need to make manual adjustments – saving time and reducing the likelihood of errors in the financial statements.

Practice Manager

Practice Management updates

Send letter to a single client from Client/Contact List

Need to send a quick letter to a client? Now you can generate any letter via mail merge straight from the client list for a single client in just a few clicks. Here’s how:

  1. Go to Clients/Contacts.
  2. Right-click on a client.
  3. Select 'Send Letter'.
  4. A dialog box displaying a list of Mail Merge Templates will appear.
  5. Select the relevant template and specify the tax year to populate your letter with the appropriate client data.
  6. Click ‘Send’ to generate a letter for your selected client.

Improved search for clients and contacts

We’ve made it easier to search through our database to locate both clients and contacts at the same time. Simply:

  1. Go to Clients/Contacts.
  2. Select the new 'Clients & Contacts' filter.
  3. Enter the relevant criteria into the search bar.

More clients means more data. So the need to search and find the right client easily becomes more and more important. This is a small improvement that can save a great deal of time.

Client tax questionnaire 2021/22 update

As we do every year, we’ve updated the client tax questionnaire for you to mail out to your clients in timely fashion and start the new tax year as you mean to go on – completely organised!

See the full release notes

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

View release notes

Recent updates

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

See our last release