FRS 102 MLA
Medium and Large Accounts
Additional reports and disclosures include:
For those of you taking advantage of our automatically generated client record requests, we now give you a proactive nudge four days prior to generation, so you can review the work status of your clients to ensure any records already received are correctly noted on the system. This prevents you generating requests for clients who have already sent their records in.
In order to prevent work sitting around the office unallocated or unstarted, if a work status remains on ‘Records Received’ for 14 days or more, then a notification will appear asking whether you wish to review and get this work under way. Which means, no more clients chasing you for progress before anyone has started the job.
Powerful client management using custom fields
Custom fields can now be added as a column to the Client List within Practice Manager allowing you to search, sort and filter by any criteria of your choosing. Use it to identify your Gold, Silver and Bronze clients, your digitally-ready versus your digitally-excluded, or which of those clients fail to provide you with their records until January for some targeted communications.
Save your favourites as a Column View, so you don’t need to data mine each time.
Keeping up to date
with product enhancements
Everyone loves to know what exciting feature updates and improvements we have made within TaxCalc, so each time you run an update all users will receive a discreet notification informing them of our top three enhancements, together with a link to the full What’s New? page should they wish to see more. We have also created a new TaxCalc Tips and Tricks area in our Knowledgebase for any exciting product highlights you may have missed in earlier releases.
Client tax questionnaire
As we do every year, we’ve updated the client tax questionnaire for you to send out to your clients in timely fashion and start the new tax year as you mean to go on. Now with added questions around crypto asset transactions.
Enhanced data migration
We have improved our already very capable Import Client tool to include the importation of dropdown custom fields. This allows seamless transfer of customised data for firms wishing to transfer client information from an alternative provider, or alternative database, to TaxCalc.
Tax Return Production
tax return forms
Keeping you compliant from the very start of the new tax year, Tax Return Production features updated forms, calculations, wizards, worksheets and helpsheets for the SA100, SA800, SA900 and R40 tax returns for individuals, partnerships and trusts.
Included within this release is the new CT600 supplementary page for Residential Property Developer Tax (RPDT), a 4% Corporation Tax surcharge for large property developers with relevant profits exceeding £25m.
HMRC tokens for multi-office firms
It is now possible for Practice Manager Plus customers to assign HMRC VAT filing and Self Assessment pre-population API credentials by office, supporting firms either with multiple offices or those using more than one set of credentials across their client base.
New Corporation Tax
return CT600 V3 (2023)
We’ve updated to the latest version of the CT600 including the new rates and calculations for Financial Year 2023 and its re-introduction of a small profits rate of Corporation Tax, together with the marginal relief calculations that will ensue.
Jointly Owned Land & Property
Import from Accounts Production
In our Summer 2022 release we created the ability to import Land & Property figures within Accounts Production directly into the individual landlord’s own tax return. We have now combined that import with our popular Joint Income Calculator to accurately apportion those figures across multiple property owners.
HMRC token expiry reminder
To avoid unnecessary interruptions to your service, we have included a reminder notification 30 days prior to HMRC’s API tokens reaching their 18 month expiry date. Allowing you to plan a token refresh at a time convenient to you.
New add-on now available!
FRS 102 MLA
Our exciting new product release for 2023 provides the ability to prepare full FRS 102 accounts for medium and large companies and includes our automatic cash flow statement generator. Existing 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.
Look out for our Directors Report / Strategic Report note-switcher, the option on all notes to add any additional text disclosure required, plus the ability to create your own standard and custom tables within notes.
We have included an option to show investment property as a separate note independent of the main tangible fixed assets note. This is particularly useful for disclosing property held at fair value. We have also relocated the general information note to display as the first note by common convention.
for FRS 102 s1A
We are always looking for ways to speed up the accounts preparation process as we understand how time consuming this can be. It is now possible to edit any account descriptions directly from the Financial Statements when in edit mode, allowing any amendments to be made on-the-fly during the review process. Customisation at speed.
Expanded chart of accounts
Following recent feedback from customers, we have included additional nominal codes for tangible and intangible assets, investments, subsidiaries, associates and joint ventures. As well as giving more flexibility this allows us to improve the automatic note generation in these areas.
For the full story
For a full list of updates, please see the release notes in our Knowledgebase.
We regularly release new features and enhancements to TaxCalc, take a look at our previous release.See our previous release