Topics in this Section
- Each trade you create has it's own trade summary. This is where you must input the profit before tax per accounts and turnover. The remaining fields are populated from tax data you input throughout the software for the relevant period of account.. This is window is accessed from the Data Navigator - Trading Income > Your Trade name
- This section describes how to create land and property assets and detail the expenditure for each property as required. This is only relevant where the client record contains either: UK property business or Foreign property business
- The profit/(loss before tax per the accounts is not used for Creative Industry trades. The Profit/(loss) is calculated by reference to the entries made in the Profits/(Losses) and the Tax Relief windows contained under the Creative Industries relief option in the data navigator. Any entry made in the Trade Summary window is automatically adjusted for the entries made in the Profits/(Losses) and Tax Relief data entry windows and the adjustment appears under other adjustments.
- You should use this to enter details of the expenditure that is included within the profit and loss account and is not allowable for tax. It should also be used for other adjustments which may not have appeared in the profit and loss account.
- This is to be used to record details of the provisions that have been included within the accounts. The tax adjustments for provisions for Bad Debts, Pensions and Remuneration should be reported separately.
- This is used to report details of Bad debts included within the accounts and to calculate the tax adjustment arising. The data entries to be made are self explanatory.
- This is used to report details for any tax adjustments required for Remuneration.
- This should be used to report any tax adjustments required for Pensions. It can also be used to reconcile the Pension Contribution accruals brought forward and carried forward by the company during the Period of Account (POA).
- This is where the company provides details of qualifying expenditure incurred on remedying contaminated land, and to claim an enhanced deduction for that expenditure
- This data entry provides the facility to adjust the Trading Profit or Loss for a Transfer Pricing adjustment.
- This window enables the user to make an adjustment to the Trading Profit or Loss for an SAnti Avoidance adjustment.
- This is for lease premiums related to land and property only. Use this window to claim tax relief for lease premiums paid and for tax adjustments for lease premiums received.
- The software supports the calculation of the appropriate tax adjustments for leased car rental payments and does this for both pre April 2009 leases or post April 2009 leases. These calculations are based on either the retail price or the CO2 emissions respectively. For Trades, the disallowable proportion of the rental payment is calculated and adjusted for in the adjusted trading results For Expenses of Management business investments, the allowable proportion of the rental payment is calculated and is incorporated into the management expenses summary. The reference to lease cars includes Hire cars which are subject to the same restrictions.
- This is for adjustments for Trade Loan Relationships paid or received. Non Trade Loan Relationships should be shown In Non Trade Loan Relationships.
- This is for payments made for assets under Finance Lease where tax relief is granted for the entries shown in the accounts and not as a Capital Allowance.
- You can use this section to enter details of the amortisation of Trade Intangible fixed assets and to claim tax relief for Trade Intangible Fixed Assets.
- The turnover values are entered in the Trading Income Summary UI. The turnover value may be either Manually entered Updated from CCH Accounts Production - when using the updated when creating a Detailed Profit and Loss