IRIS Business Tax - Schedule A

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How to file a CT600 for a charity.

Create a standalone LTD company within business tax, giving the client a separate identifier to that in the accounts.
  
Manually enter the information within Data entry | Charities and CASC`s (ct600E).

Reports | Electronic Tax Return | attach the accounts externally as the accounts production module and business tax will not be linked.

The company had Franked Investment Income but this is not entered in box 38, nor is it being shown on the corporation tax computation.

Box 38 only has to be completed if the company claims to be charged at the starting or small companies' rate or claims marginal, starting or small companies' relief.

If the company made a loss or is being charged at the full rate of tax box 38 is not completed and the Franked Investment Income memo is not included on the corporation tax computation.  

Where can I enter the number of associated companies?

Go to Data Entry | Calculation | Tax Calculation.

Enter the number of associated companies excluding the company that you are working on.

The business has a year end which straddles two financial years why are boxes 40 and 41 on the CT600 for associated companies not completed?

These boxes only need to be completed if all the following are true:

The corporation tax accounting period straddles two financial years and

the upper or lower limits for marginal relief varies and

the number of associated companies was different.
For further information see Note 39 - 41 on the Company Tax Return Guide.

I have a company whose accounting period straddles two financial years but boxes 53 to 56 on the CT600 for the corporation tax chargeable are not being completed.

These fields only have to be completed if there was a different tax rate in the two financial years.

For further information see Notes 43 - 62 on the Inland Revenue's Company Tax Return Guide.

Trying to enter an amount for Construction Industry Deductions but the field is disabled?

You should only enter deductions before 6 April 2002 in this field so if the accounting period starts after this date Business Tax does not allow you to access the field.

Companies now set off the CIS deductions they have suffered against the PAYE, NICs, student loan repayments (SLR) and CIS they are due to account for in respect of their own employees and subcontractors.

In future companies will only pay over the PAYE, NICs, SLR, and CIS due after setting off the CIS deductions suffered.

Any deductions that cannot be set against the payments that the company is liable to make during the year will be repaid at the end of the tax year through the normal end of year PAYE process.

Please note box 73 has now been replaced by double taxation relief.

How do I print the second CTAP in a long period?

Go to Reports | CT600, select whether the report is final/interim/unrecorded and then choose to print the return to the screen or be printed.  

On the Corporation Tax Self Assessment Return Print screen select the CTAP you wish to print at the top of the screen, next to the period details.

How do I carry back DI trading losses?

Select Data entry | Calculation | Income and then click Trading losses.

Enter the loss in the Carried back field. The carried back loss can also be shown as brought back in the previous accounting period, using the Brought back field.

Where do I enter the tax deducted at source?

Select Data Entry | Calculation | Reliefs and Deductions in Terms of Tax | Calculation of Tax Outstanding or Overpaid tab.

Enter the amount into box 84, Income Tax deducted by gross income.