 |
Client filing
system
File functions are included for creating new Company Tax
Return files or creating files based on those
from the previous year. Other file functions include Open,
Save, Close, Rename, Delete and Backup.
Transferring client data from the previous year means that all
data which does not, or is unlikely to, change from year to
year (e.g. company name and reference number, directors'
names, relevant
supplementary pages, bank account names) is instantly
copied from the previous year's Company Tax Return to create the
"skeleton" of the current year's return, thus saving a large
amount of data entry from year to year. |
|
|
On-screen display of
the Company Tax Return form
The program includes a full-colour,
on-screen display of the Company Tax Return form
and the Supplementary Pages. Rapid navigation around the forms is possible
using a variety of methods such as control
keys, scroll bars and page selection buttons. If required,
information can
be entered directly into each Company Tax Return box as it would be on
a paper return form. |
|
|
Notepads with
"point and click" icons (Full version only)
Sprinkled around the on-screen Company Tax Return forms you will find
many "notepad" icons. Simply "point and click" on any
of these to reveal one of Tax Assistant's most powerful features, the
Notepads. Each notepad icon is context sensitive. When you click on an icon
a Notepad page appears which applies to that section of the Company Tax Return.
There are Notepad pages for all sections of the Company Tax Return where
background data is used to derive the information that appears on
the tax forms. Amounts calculated in the notepads are automatically
copied to the appropriate tax form boxes when you
click on the OK button on a notepad. All information entered on the
notepads can be printed out in the form of supporting schedules to
accompany a tax return. |
|
|
Calculators for
special functions
Several specialised on-screen "calculators"
are incorporated into the Company Tax Return programs. These include:
 |
Trading
adjustments for tax purposes for calculation of taxable
profits, taking into account disallowable expenses,
balancing charges, capital allowances, and non-trading
income. This function is only available in the Full
version. |
|
Capital
allowances for calculation of capital allowances and balancing charges,
based on the initial value brought forward, writing-down
factors, proportion of private use, and sales. This
calculator also deals with first year allowances. This
function is only available in the Full version. |
|
Non-trading
loan relationships for calculation of net profits and
deficits from loan relationships and derivative contracts,
taking account of profits and deficits for the current
period, deficits brought back from later periods, and
deficits brought forward from earlier periods. This function
is only available in the Full version. |
|
Income
from UK land and buildings for calculation of taxable
income or losses from UK land and buildings, taking account
of rental and other income, expenses, additions and
deductions for tax purposes, partial share of property, and
multiple properties. This function is only available in the
Full version. |
|
Corporation
tax for calculation of corporation tax liability, taking
account of taxable profits, and partitioning between two
financial years with different tax rates in each year. |
|
Marginal
relief for calculation of marginal starting rate or
small companies relief, taking account of taxable profits,
franked investment income, number of associated companies,
the upper and lower limits for marginal relief, partitioning
between two financial years with different tax rates in each
year, and apportionment for accounting periods less than a
full year. |
|
Non-corporate
distributions for calculation of additional tax due
resulting from non-corporate distributions. This includes
support for NCDs brought forward and carried forward and
apportionment of matched profits between corporate and
non-corporate distributions. |
|
Chargeable gains
and allowable losses
for calculation of
the gains and losses arising from the disposal of capital assets, including
incidental costs of acquisition and disposal, and indexation
allowance. This function is only available in the Full
version. |
|
Enhanced
R&D expenditure for calculation of enhanced R&D
expenditure and R&D tax credit, taking account of the
limits for entitlement to enhanced allowance, company status
(SME or Large company), and apportionment for accounting
periods less than a full year. This function is only
available in the Full version. |
|
|
|
Corporation
Tax Calculation
Corporation tax due or repayable is calculated automatically
using the calculations specified on the CT600 form. |
|
|
Printed reports
of Company Tax Returns, supporting schedules and tax calculations.
Tax Assistant produces high quality
printed reports on laser printers. The substitute Company Tax Return produced by Tax Assistant is approved by
HM Revenue & Customs for submission in place of the official Company Tax Return form. Schedule
printouts have headers and footers containing the company name and
reference number, and the date. The Company Tax Return, including the
supplementary pages and schedules, can also be saved as a Portable Document Format
(PDF) file that can be
sent to the client by email. Printing of the Supplementary Pages
and the schedules is only available in the Full version. |
|
