CCH Corporation Tax. User Guide

Transcription

1 CCH Corporation Tax User Guide

2 Disclaimer Wolters Kluwer has made every effort to ensure the accuracy and completeness of this Training Manual. However, Wolters Kluwer, its staff and agents will not be liable for any errors or omissions and use of the software is subject to the customer s licence with Wolters Kluwer. This Training Manual should not be relied upon as a detailed specification of the system or the software. Wolters Kluwer may make changes to this Training Manual from time to time. Copyright This Training Manual may not be copied, altered, edited, disposed of or distributed without the prior consent of Wolters Kluwer. The content is confidential Unless indicated otherwise all other elements of this software production are owned by Wolters Kluwer (UK) Ltd 2012 Wolters Kluwer (UK) Limited (trading as Wolters Kluwer) UNITED KINGDOM Trademark Rights Microsoft, Windows, Windows NT, Windows for Workgroups, Windows 98, 2000, XP, MS-DOS, Windows Vista, Windows 7, Windows Server, Microsoft SQL Server, and Microsoft Office, are either registered trademarks or trademarks of Microsoft Corporation. Novell and NetWare are trademarks of Novell Inc. Citrix MetaFrame is a registered trademark or trademarks of Citrix Systems, Inc., All rights reserved. All other trademarks are the property of their respective owners. Wolters Kluwer 145 London Road, Kingston upon Thames, Surrey KT2 6SR UNITED KINGDOM

3 Contact Details Website Kingston 145 London Road Telephone: Kingston Upon Thames Facsimile: Surrey KT2 6SR Customer Care & Support Telephone: *Calls are charged at 7p per minute plus your telephone company s access charge. cchsoftwaresupport@wolterskluwer.co.uk Website: Ireland Wolters Kluwer Ireland Ltd First Floor Unit 7B Global House Forest Park Mullingar Co Westmeath Telephone: Republic of Ireland Facsimile: Customer Care & Support Telephone:

4 Contents CCH Corporation Tax - User Guide Aims 1 Objectives 1 Prerequisites 1 Accessing Clients 2 Client Search Screen 2 Homepage View and Filters 3 Working with Grids 4 Entering data in grids 4 Accessing secondary analysis screens 5 Method 1 5 Method 2 6 Cell navigation 6 Multiple accounting periods 6 Sort 7 Creating Period of Account 7 Client Setup Requirements 7 ixbrl entity 7 Creating a Period of Account 8 Editing POA and AP s 8 Deleting a Period of Account 9 Create prior periods of account 9 Trade commencement & cessation - automatic calculation of accounting periods 10 Navigation 11 Ribbon Bar 11 Profit & Loss 12 Data Navigator 12 Features 12 Breadcrumbs 13 Hyperlinks 14 Shortcut keys 14 Notes 14 II

5 Summary panel 16 Errors & Exceptions 16 Types of messages 16 Importing data from CCH Accounts Production 18 Global setting 18 Client by Client 19 CCH Accounts Production Links 19 Update 19 Posting a Tax Journal to CCH Accounts Production 21 Online Filing 23 Submission types 24 Attachments 25 Adding accounts attachments 26 Method 1 Browse for the HTML file 26 Method 2 - Link with CCH Accounts Production 26 Adding computation attachments 27 Adding other attachments 27 Validation and IR Mark Generation 27 Actions 28 Sending the submission documents to HMRC 28 Actions 29 Submission history 30 Submitting Amended Returns 30 Option to include company name and UTR on PDF Return 31 Publishing documents to CCH Document Management and CCH Portal 32 Post pre validation 33 Post submission to HMRC 33 Publish online filing documents to Portal 34 Printing 34 Printing computations and Tax returns 34 Exporting computation to PDF format 35 Commonly Used Areas 36 Trading Income 36 Property business 37 Restricted Loss 39 Foreign income 40 Other taxed income 41 III

6 Balance Sheet Analysis 42 Tangible Fixed Assets 42 Trade Intangible Fixed Assets 43 Additions Analysis 43 Non-Qualifying Assets 44 Disposals Analysis 45 Deferred Tax Module 46 Net Book Values 46 Current Tax Reconciliation 46 Annual Investment Allowance 47 Losses and Claims 48 Tax return other information 48 Repayment claims 49 Participators and Associates 49 CT600 supplementary pages 50 Quarterly instalments and tax payments 51 HMRC CT600 User Guides 52 Groups module 53 Import/Export CT Clients 53 Export a client 53 Import a client 54 Travel Clients 54 IV

7 Aims This guide is intended for anyone who will be using CCH Corporation Tax to produce Corporation Tax Returns and Computations. To introduce all delegates to CCH Corporation Tax and how it is used to complete Corporation Tax Returns and Computations for all Corporate clients including E-Filing. Objectives This guide will help, users to: Navigate quickly and efficiently within CCH Corporation Tax Setup trade Import data from CCH Accounts Production Produce Corporation Tax Return Produce Corporation Tax Computations Import tagged accounts from CCH Review and Tag ready for online filing E-Filing of Accounts and Tax computations together with the CT600 and relevant supplementary pages Publish accounts and computations to CCH Document Management and CCH Portal Prerequisites It is essential to ensure database has been configured in line with the CCH Corporation Tax System Administrators Guide for the setup of: Reporting and grouping parameters Extra fields Security groups and permissions Homepages Online filing credentials In addition to above, reference should be made to the Central documentation and Central elearning courses for full details on working with and creating clients, contacts and employees in Central and delegates must also possess: A good working knowledge of Windows software. A good knowledge and understanding of Corporate Taxation Compliance Issues. CORPORATION TAX USER GUIDE

8 Accessing Clients Clients can be accessed from either the: Client search screen in Central or Homepage views Client Search Screen To open an existing client, click the Clients button on the toolbar to display the Find clients tab. This will initially be empty. To search for a client: Enter all or part of the client s name or code in the Search for field. Click Search. A list of all clients meeting the entered criteria appears. To open the client, double-click the client s name. To display a list of all clients, leave the Search for field blank and click on the Search button. The system also maintains a list of recently accessed clients and contacts and displays them in the File menu. You may also open a client by selecting it from this list. 2 CORPORATION TAX USER GUIDE

9 Homepage View and Filters Corporation Tax homepage view displays: Client list This displays a list of all Corporation Tax clients. Click on the Client code and you will be taken directly to the Tax Returns tab for the client. There is a search facility on this control providing easy navigation to the client record. Note: Draft clients will not appear on the corporation Tax client list homepage control. It will not be possible to create any periods of account until the status of the client is amended to Full. Online filing status This will display a list of clients accounting periods for which the Tax Return has not yet been successfully electronically filed to HMRC and for which the filing date falls due within the next 30 days. Please refer to CCH Corporation Tax System Administrators Guide for setting up homepages. For more information regarding client creation, opening clients and other related options refer to CCH Central s Help via Help - Online Help on the main menu. Homepage filters can be applied independently to each view by right clicking in the grey area at the top and making a selection. The filter is applied as per the responsibility settings for each client and employee. CORPORATION TAX USER GUIDE

10 By using these filter by each employee can restrict the view to display only those clients who they are responsible for as team member, manager or partner or clients who area allocated to the same office, company and department as them. Working with Grids CCH Corporation Tax makes widespread use of grids for the entry of and to display data. Grids display data in a tabular format characterized by rows and columns. This section summarizes the basic elements of using grids within CCH Corporation Tax. The data in grids is displayed in rows with a context-sensitive number of column containing pre-determined column titles. To add a new entry, type the information into the relevant cells in the data entry row. In certain circumstances, the system will auto-populate cells with predetermined values and these cannot be changed. These are generally system calculated cells and they are typically identified by the cell being shown with a grey background. Entering data in grids In some instances it will be possible to either type data in or select options from drop-down lists. The fields containing such a list are identified by an arrow key on the far right hand side of the field. A common drop-down is the description field in disallowable adjustments. 4 CORPORATION TAX USER GUIDE

11 For this field you can type part of the description and the row that matches the entered data will be highlighted in the drop down list. Use the up and down arrow keys to select a description and press [Enter] or select by pointing to it and clicking the left mouse button. Some grid cells contain the ellipsis button, which allows you to search and select other data to appear in the current client record. An example of this can be seen in the company fields in CT600C Claims and Surrenders to Group Relief. Accessing secondary analysis screens In some areas, the first screen you see is effectively a summary of data entered in other underlying screens. There are two methods to gaining access to these analysis screens: Method 1 Click on the Details hyperlink seen at the right hand side of a row in the grid. CORPORATION TAX USER GUIDE

12 This is a conventional hyperlink that provides you with a new screen in which to analyse the values entered in the previous screen in the example shown the Penalties and fines has been analysed. Method 2 Press the ctrl key + left mouse click This method applies where the name or description is editable and this occurs in two areas: Trading income and Capital disposals Cell navigation There are four ways to navigate from cell to cell within a grid: Pressing the Enter key Tab Left and right arrows Up and down arrows Multiple accounting periods Grids will increase in width to accommodate the entering of data for each accounting period where appropriate. An example of this can be seen in Research & Development. 6 CORPORATION TAX USER GUIDE

13 Sort You can change the order by which items are displayed by clicking on the column title of the field on which you wish to sort. For example, if you want to sort the date by ascending or descending order then click the Date column title. An arrow icon appears in the column title indicating the selected sort order. Click the column title again to reverse the sorting options. Creating Period of Account Client Setup Requirements To ensure you have all the required mandatory items to enable a successful online filing submission, enter the company registration number or charity reference number and the 10 digit UTR in the fields located on the Main tab. ixbrl entity The registration number or charity number entered in the Reg no field on the Main tab will appear in the Reference field on the Tax Returns tab. The entity type is set to Companies incorporated under the Companies Act 2006 by default. Ensure that you select the correct type if this category does not apply to your client. This is required for the correct generation of the ixbrl computation for the online filing submission. CORPORATION TAX USER GUIDE

14 Creating a Period of Account Once you have the Tax Returns tab in view, click on Click here to create a period of account link. If the period dates you enter are greater than 12 months apart the system will automatically create two tax accounting periods one of 12 months in length, followed by a period covering the remaining months to the end of the period of account. The accounting period dates can be set up at the same time as the period of account or can be amended after the period has been created. You can enter the dates using the keypad or the calendar and if the period of account is 12 months in length simply type in the start date and then tab which will create the 12 month period. When you set up the correct dates click OK and the period will be created and immediately opened for you to begin entering data. This will also occur when you create subsequent periods of account. Editing POA and AP s At any point it is possible to edit the period of account or accounting periods from when it was first created. Highlight the period of account you wish to amend and click on Edit POA or Edit AP s. 8 CORPORATION TAX USER GUIDE

15 Edit POA allows you to: Change period of account start and end date Change accounting period dates Edit AP s allows you to: Change the dates for the accounting periods for an existing period of account (you cannot alter the period of account dates here). Deleting a Period of Account To delete a period of account highlight the period you want to delete and press the [Delete] key. Following message will appear and all data for the selected period will be permanently deleted. You are only permitted to delete periods of account in order, meaning that the most recent period must be deleted first. Create prior periods of account To create an earlier Period of Account click in the area Click here to create a new period of account. You will need to manually enter the Period of Account Start date. When you tab or click away from this field the Period of Account End date will automatically default to show either a Period of Account of 12 months or CORPORATION TAX USER GUIDE

16 the date immediately prior to the start of the Period of Account already held in CCH Corporation Tax. You can amend this date as required. It is possible to have a gap between the end of the Period of Account created and the start of the next Period of Account. Please ensure that the dates are correct and that the gap is correct. It is not possible to take any tax data and notes from the later period to the new earlier period. The check boxes on the create period of account window will not be available. Trade commencement & cessation - automatic calculation of accounting periods The system will automatically calculate and suggest the Accounting Periods required for the Period of Account when a trade commencement or cessation date is entered. When a date has been entered (or, if there are multiple trades, all dates for commencement and cessation have been entered) the Edit Accounting Periods window will be displayed. The dates can be amended if required. When OK is selected, the Tax Return will close and automatically reopen to allow the changes to be made to the Accounting Periods. 10 CORPORATION TAX USER GUIDE

17 Navigation Select a period of account from the Tax Returns tab and click to open the period of account. CCH Corporation Tax has a task driven left hand panel showing Actions at the top and Data navigator below. Also displayed is a computation Summary screen, Errors and Exceptions panel. Ribbon Bar The Ribbon Bar contains tasks in the form of buttons: Online filing - Takes you to the online filing area where you can attach documents and file your client s Tax return to HMRC. Click on the above link to take you to the section on Online filing. View - computation - Generates the full corporation tax computation from where you can view and print the full computation. The computation will be displayed in a separate tab. CORPORATION TAX USER GUIDE

18 View - Tax return - This option allows you to view and print the CT600 Tax return and supplementary pages for all accounting periods. The tax return for each accounting period will be shown in a separate tab. Update from Accounts - This enables you to import trade data from CCH Accounts Production directly into CCH Corporation Tax providing submit tax data is used within CCH Corporation Tax. Submit Tax data option is available in Tax Links area of CCH Accounts Production. Publish Portal - This allows you to upload documents into CCH Portal. Publish Document Management - This allows you to upload documents into CCH Document Management. Profit & Loss Please refer to the CCH Corporation Tax Profit & Loss User Guide on using this section. Data Navigator This contains the data entry screens relevant to the company s period of account data. Upon accessing the period of account the summary node within the data navigator is highlighted indicating where you are. The data navigator is arranged simply for ease of navigation with Tax payments and Pre trading expenditure situated at the top followed by Trades and trade related items, other income and expenses with the CT600 and supplementary pages at the foot of the list. Features The navigator comes with a number of features to aid you in completion of clients Returns. 12 CORPORATION TAX USER GUIDE

19 Search facility allowing you to locate the data entry screen you require. Hide unused sources providing you with a more refined list. Up and down arrow will take you through each node in the navigator in turn. [Return] key will expand a list from any parent node or Double click a parent node to expand. Option to mark a data entry screen or group of data entry screens as completed or reviewed directly from the navigator. Visual indicators when an area is complete and/or reviewed. There is a completed and reviewed checkbox at the foot of each data entry screen. When completed is ticked a red tick will be displayed and when reviewed is ticked a green tick will be displayed. Individual screens for each accounting period where relevant. Breadcrumbs In addition to the Data Navigator, there is a means of navigating through screens using the Breadcrumbs situated at the top of the screen area. Quickly navigate between screens in a given area based on the parent node. For example the screenshot below allows you to navigate between screens that relate to Trade. Clicking on the black arrow alongside an item will display a list of the related screens again within that group. CORPORATION TAX USER GUIDE

20 Hyperlinks Many of the data entry screens contain hyperlinks to other screens and summary screens to aid easy and quick navigation around the screen. Shortcut keys The following allow an additional means of navigating around the application using your keyboard: Notes Ctrl + N - This navigates to the data navigator Ctrl + F - This navigates to the search field at the top of the data navigator. Ctrl + B - This navigates to the Summary Ctrl + W - This navigates to the first message shown in the Errors & Exceptions panel. You are able to add disclosure notes to each data entry screen. Click on the Click to add notes hyperlink at the foot of the screen. The following window will appear. 14 CORPORATION TAX USER GUIDE

21 Select the row to begin entering notes. The following formatting options are available: Increase and decrease size of test Underlining Increase and decrease indentation Text alignment Embolden text Numbering and bullets Undo Copy and paste text in and out of the notes Spell checking A list of all notes added to the client record can be seen through Notes summary in the actions panel. You can access the relevant data entry screen by clicking on the hyperlinked note in the notes summary. Notes can also be edited or deleted using this method. Notes added to data entry areas where there is an associated report produced as a part of the computation will appear at the foot of that associated report. Notes will appear as an Appendix at the back of the computation where they are entered against data entry areas listed below: Tax return formation>main Return Data Tax Return Information>Associates Tax Return Information>Repayments Tax Return information>ct600b CORPORATION TAX USER GUIDE

22 Tax Return Information>CT600E Tax Return Information>CT600H Tax Return Information>CT600J Summary panel This displays the real-time abbreviated corporation tax computation. It includes the three most relevant reports: Tax liability Chargeable profits Marginal relief The computation is real-time so it is continually updated automatically by the entry of data which affects the tax liability. Errors & Exceptions A list of real-time errors and exceptions that have occurred during current-period data entry appears at the bottom of the data entry screens. Click on an entry in the list to display the functional area within CCH Corporation Tax that requires your attention. This panel can be pinned or unpinned using the pin icon in the top right corner of the panel. This will allow you to hide or un-hide the errors and exceptions panel. When hidden, this panel appears as a small Errors and Exceptions tab in the bottom left of the data entry screen. The buttons that run along the top of the Errors and Exceptions panel allows you to filter the messages shown e.g. if the Warning button is selected then only warnings are displayed. Types of messages Online filing errors - These errors will prevent a successful validation of the tax return and you will not be able to submit the return to HMRC. 16 CORPORATION TAX USER GUIDE

23 Red warning messages - These warning messages alert you to data that may render the tax return or computation incorrect. These should be reviewed before finalising the period. Yellow warning messages - These warnings refer to areas that you may wish to review and make changes to but they will not render the return or computation incorrect. CORPORATION TAX USER GUIDE

24 Importing data from CCH Accounts Production You can import information from certain fields from CCH Accounts Production to CCH Corporation Tax once you have created your trade or trades. The data that is linked is: Profit/(loss) per accounts Turnover Depreciation Profit/(loss) on disposal of fixed assets Global setting There is a global setting to switch on the automated updates. This setting switches on the capability within the software to automatically update data. Select Maintenance - Tax settings - Corporation Tax - Tax system parameters. Check the box "Update from CCH Accounts Production automatically". Note: You must have the appropriate task permissions granted to access this area. See details regarding below Task Permissions 18 CORPORATION TAX USER GUIDE

25 Client by Client To provide for the maximum flexibility the update can be tailored for each client for any period of account from the Tax Links tab for each client within Corporation Tax. Check the box to apply the automatic update to the client. Any new clients created with associated periods of account will have the automatic update links checked. CCH Accounts Production Links There are two update links as follows: CCH Accounts Production link - Profit & Loss This link updates the full detailed profit and loss from CCH Accounts Production. If the Profit & Loss within CCH Corporation Tax has not been created the update will automatically create the Profit & Loss. CCH Accounts Production link This link applies to the 4 values described above. If there is no trade created within the period of account the automatic update will create one. There is an additional check box entitled Update primary trade. This applies to the update of the four values only. Select this to ensure that the primary trade is updated with the appropriate values. This is only necessary where there is more than one trade in existence and one of the trades is selected as the primary trade. Update To update automatically: Open the Tax Link area within CCH Accounts Production and then select Update Tax. Open the period of account within CCH Corporation Tax CORPORATION TAX USER GUIDE

26 The values will be shown in the appropriate area depending upon the CCH Accounts Production link you have chosen. To import data, access the accounting period in CCH AP and go to Tax link within the Transactions section. Add any disallowable amounts either as an amount value or as a percentage. Once you have completed this, click on Submit tax data in the Actions panel. The Complete window appears. Return to the period of account in Corporation Tax and click on Import Accounts data. Note: Trade must be present in CCH Corporation Tax before data can be imported. If there are multiple periods set up in Accounts production and the current period of account dates in Corporation Tax do not match the periods present in Accounts production you will be asked to select the period you wish to import. 20 CORPORATION TAX USER GUIDE

27 If you have more than one trade you will be asked to select the trade you wish the values to be imported into. If adjustments are made to the data in Accounts Production, there is no requirement to close the tax return to update. A message will be displayed in the Errors & Exception panel at the foot of the working area advising you that information has changed and is available. Simply click on the message when you are ready to receive the latest accounts information into the Tax Return. You will be informed of the change in information regardless of whether you are using the manual or automatic methods of updating information from CCH Accounts Production and whether you have opted for the full detailed profit & loss or the update of the four key values for Turnover, Profit before tax, depreciation and profit on disposal of a fixed asset. Posting a Tax Journal to CCH Accounts Production CCH Corporation Tax incorporates additional integration with CCH Accounts Production. A journal containing the Corporation Tax liability for the period of account can be posted directly to CCH Accounts Production. To create a journal: Select Tax journal on the left hand data navigator panel. Click in the Number field. Select the accounting period that the journal will be posted to within CCH Accounts Production. Click on OK. CORPORATION TAX USER GUIDE

28 The amount field is automatically populated with the calculated corporation tax liability, but can be overwritten. To post a different value than the one calculated then simply enter a value in the Override amount field. Corporation Tax will, in addition, automatically calculate the amount of subsequent journals for any changes in the tax liability based upon journals previously posted. Click OK to create the journal and post the amount to CCH Accounts Production. Note: The Codes are automatically completed based on the type of accounts, either 3 digit or 4 digit, used to produce the company's accounts in CCH Accounts Production. These codes can be manually overwritten. A warning message will be shown if the code entered cannot be recognised as valid by CCH Accounts Production. 22 CORPORATION TAX USER GUIDE

29 Online Filing In most cases a tagged set of accounts and computations are required for online filing but there are exceptions to this where either one or both may not be required for example a long period of account where PoA differs from AP. For these cases ensure correct options are selected and a reason given within Main Return Data. The default settings are shown below. When you are ready to send the Tax return and accompanying documents to HMRC, click on the Online filing hyperlink in the Actions panel. CORPORATION TAX USER GUIDE

30 A new tab will open. Click on New submission in the task bar on the left hand panel. Note: If you have a period of account containing multiple accounting periods, you will need to do a separate submission for each accounting period. Submission types There are two radio buttons marked Original submission and Amended submission. The default will be Original for the first submission created in CCH Corporation Tax. 24 CORPORATION TAX USER GUIDE

31 If you wish to send the first submission from CCH Corporation Tax as an Amended submission, then you will need to be provided with the appropriate permissions for the security group you belong to. (See the section on Task permissions in the Administrators Guide). Attachments Once you have selected your submission you are presented with options to attach accounts files and other PDF files. If you have a period in which you are not attaching any accounts or computations the fields will display the settings you have selected from Main Return data entry screen. CORPORATION TAX USER GUIDE

32 Adding accounts attachments There are two methods of attaching accounts files to your submission. Method 1 Browse for the HTML file Click on the Load attachment icon alongside the accounts field and browse for the file. Method 2 - Link with CCH Accounts Production For users of CCH Accounts production there is a link within CCH Review & Tag that allows you to export the final accounts file to corporation Tax. Once you have created your accounts and you are ready to review the ixbrl, click on Review ixbrl from within the Actions panel within CCH Accounts Production. Review & Tag will appear and a check of the accounts for any errors in the tagged accounts will take place. Clear any HMRC errors found. Once there are no HMRC errors, click on the Export to CT hyperlink in the left hand panel. We recommend that you do a test submission of the accounts to HMRC before exporting them to Corporation Tax. 26 CORPORATION TAX USER GUIDE

33 Adding computation attachments The computation is automatically generated and attached upon accessing the submission. Adding other attachments Select the Load attachment icon alongside the field and browse for the location of the PDF files you want to attach. It is possible to view the PDF files after attaching them by highlighting an attachment and clicking on the View attachment icon. Use the Delete attachment icon to delete one attachment at a time. If you wish to delete multiple attachments click on the Remove all additional attachments. Validation and IR Mark Generation Once you have attached all the documents, click on Pre-validate CT600 within the Actions section. This will generate the appropriate submission file and automatically perform a Test in Live submission. Any errors or omissions will be reported immediately and will be displayed in the Actions section. These will need to be corrected before a successful submission can take place. Once the submission has been successfully validated, the IRMark is generated. CORPORATION TAX USER GUIDE

34 Actions Tasks that can be performed here, following IRMark generation are: Perform a Test-inLive submission to HMRC to perform another test submission prior to obtaining client authorisation. Tax Return approved. Submit to HMRC perform the real submission. View Xml Tax Return View the CT600 XML View Pdf Tax Return View the Tax Return Cancel the IR Mark and generate a new one Print documents for client documents to client Publish to DM Sending the submission documents to HMRC Click on Tax return approved submit to HMRC. Once a response is received it will be displayed in the HMRC response section. 28 CORPORATION TAX USER GUIDE

35 Actions Tasks that can be performed here, following submission are: View submission documents All documents relating to a submission can be viewed either by this link or expanding the submission within the tree in the left hand panel. Cancel this submission and regenerate a new one This option is only available to users who have the appropriate rights. This can be used when HMRC have deleted a record of the first submission and you have altered the Return, so a new submission requires generation but it is not relevant to produce an amended submission. Resubmit this return to HMRC This option is only available to users who have the appropriate rights. This can be used when HMRC have no record of the first attempt and you need to resubmit it as an original submission, but it is not relevant to produce an amended submission. CORPORATION TAX USER GUIDE

36 No action Close the window. Submission history A record of each submission attempt made is kept. The documents relating to that attempt can be seen by expanding the parent node in the tree or by clicking on View submission documents from the HMRC response screen on the parent node. Each document contains the IRMark associated with the submission and each document can be viewed, printed or saved to an external location. Submitting Amended Returns Select new submission for the relevant AP from the task bar on the left hand side. 30 CORPORATION TAX USER GUIDE

37 CCH Corporation Tax will now default to Amended Submission. Option to include company name and UTR on PDF Return The software gives you the option to have the company name and UTR displayed on each page of the CT600 and supplementary pages. To set this option for all clients select Maintenance>Tax settings>corporation Tax>Layout and formatting. Select which name format you want to appear on the returns which is either Main or Mailing name. Then check the box. The company name and UTR will appear at the foot of each page of the CT600 and supplementary pages with the exception of the first page of each return. The first page already has the company name shown. CORPORATION TAX USER GUIDE

38 Publishing documents to CCH Document Management and CCH Portal CCH corporation Tax is fully integrated with CCH Document Management and CCH Portal. To upload the Tax return and corporation tax computation click on the Publish to DM or Publish to Portal hyperlink from within the Actions panel. Select all or any number of the Tax Return pages and schedules in the computation and click on Publish. A relevant confirmation window appears one the documents are published. Online filing documents can also be published from two places within the Online filing area: Once the CT600 has passed the pre-validation checks and Following submission of the documents to HMRC. 32 CORPORATION TAX USER GUIDE

39 Post pre validation Once the submission has successfully passed the pre validation check and the IRMark is generated, additional menu options will appear in the actions panel. An additional dialogue allows you to choose which documents to publish to Document Management. All items chosen will appear together in Document management as a zipped file. Post submission to HMRC Once you have submitted your documents to HMRC and received a response the submission documents can be published to Document Management. Click on View submission documents and then click on Publish to Document Management. CORPORATION TAX USER GUIDE

40 A new window will appear from which a selection of the available documents to publish can be made. From this stage within online filing the HMRC response can be selected. The documents can then be viewed through the Document Centre tab in Central. Publish online filing documents to Portal As with Document management above, it is also possible to publish the return, computation and online filing documentation to Portal from within the online submission area. The same options are available on clicking the Publish to Portal link. If Portal is not available, then this text will be grey and inactive. Printing Printing computations and Tax returns To print computations and Tax returns first generate the computation or tax return by selecting to View Tax returns or View Computation from the Actions panel. Then click on the print icon from the top toolbar on the computation. Alternatively choose the action from the toolbar at the top of the Tax return when on screen. 34 CORPORATION TAX USER GUIDE

41 The print dialog will be displayed from which you can make your selection. The print function encompasses the following features: Expand and collapse option for schedules Print all Select and deselect all by checking and unchecking the checkbox at the top Exclude or include page numbers Select your printer if the default printer is not the one you require Select number of copies. Exporting computation to PDF format It is now possible to export your corporation tax computation directly into PDF format by using the PDF icon situated on the View computation window. When the icon is selected, a window will open from which the full computation can be saved. CORPORATION TAX USER GUIDE

42 Commonly Used Areas The following will assist in providing you with a helpful guide through the most frequently used areas of the software. Trading Income CCH Corporation tax will automatically set the first trade as the primary trade. Trade type default is set to UK Trade, elect trade type if different. The trade name is editable and the Trading income screen will display summary of all trades. Use Ctrl + left mouse click to access the underlying summary information screen to begin entering adjustments and other relevant information or alternatively use the data navigator on the left hand side to expand on the Trading income heading to display options available. Clients wishing to use the Detailed Profit and Loss section should refer to CCH Corporation Tax Profit & Loss User Guide. 36 CORPORATION TAX USER GUIDE

43 Property business Selecting UK or Foreign property business as the trade type enables a new section accessible through the data navigator labelled Land & Property where further information can be entered. Further information about each property can now be entered within this section. Type - a drop down list allows you to identify different property letting types: Furnished holiday lettings Non-commercial Other restricted loss Property income These different types allows for the ring fencing of losses arising on the different types of letting. Use the Details hyperlink to provide full analysis of all expenses. CORPORATION TAX USER GUIDE

44 Restricted loss details - this field contains a hyperlink to the Tax planning area in Corporation Tax where there is a data entry area entitled Restricted loss. This data entry area is a record of losses arising on those property types where loss must be ring fenced and kept separate from the losses arising on standard property income. Prepare rental income and expenses report and not Adjusted trading report - This provides for the ability to produce a simple rental income and expenses report as an alternative to the traditional Adjusted profit computation report. Note: Selecting this box will remove the tick from the Primary trade box on the Trading income summary window where the Primary trade tick is set for the UK or foreign property business trade type. A warning message will ask you to confirm Populate Profit/(loss) before tax per accounts - this box is to allow you to select NOT to have the Profit/(loss) before tax per accounts box in the trade summary window completed automatically. This allows for the manual entry of any value you wish to enter. 38 CORPORATION TAX USER GUIDE

45 Note: The box is automatically ticked when the trade is created. This is the default setting. Restricted Loss The restricted loss window within Tax planning will show details of the profit and loss position for the property types; Furnished holiday letting, non-commercial property and other restricted loss property types where the loss relief is restricted. The data entry window allows you to allocate an amount of capital allowances/balancing charges to a specific property type. Any capital allowances must be completed through the capital allowances area for the trade as a whole and only enter the proportion applicable to each property here. This ensures that the specific profit or loss position for each property is calculated correctly. The loss carried forward at the end of the accounting Period will be carried forward to the loss bfwd at the start of the next accounting Period. CORPORATION TAX USER GUIDE

46 Foreign income Select Foreign Income from the Data Navigator to facilitate the input of Foreign income. Enter the details after clicking on the Details hyperlink. All foreign income sources are collated onto the Foreign Income Summary screen and linked by the use of hyperlinks to the relevant data entry windows. 40 CORPORATION TAX USER GUIDE

47 Other taxed income To access this area select Other Taxed Income on the left hand data navigator. The data entry is an easy to use grid. The same data entry is used for a single accounting period or multiple accounting period scenarios. At the foot of the grid area is box entitled Other tax deducted box. This box has a dual purpose. The box will show any amounts previously entered in the Income Tax deducted box within Tax payments data entry window. The Income Tax deducted field in Tax Payments will be disabled and it will not be possible to add any amounts here. The new field Other Tax deducted is a box in which you can claim any amount of Income Tax deducted without the need to complete the income grid above. This area applies to any income from which tax has been deducted and which you wish to see in Box 10 of the CT600. CORPORATION TAX USER GUIDE

48 Balance Sheet Analysis The Balance Sheet Analysis area within CCH Corporation Tax provides a number of time saving features making the production of comprehensive computations easier, including the ability to: Update the information from the Tangible fixed Asset note held within CCH Accounts Production Prepare detailed analysis of fixed asset additions and disposals Import fixed asset additions and disposals from an external csv file Create and update capital allowances from a single location Record information on non-qualifying assets Automatic posting of net book values to the deferred tax module A brief overview of the Balance sheet analysis is shown below. Further information on how to use the new feature can be found in CCH Corporation Tax Online Help. Tangible Fixed Assets The Tangible Fixed Assets data entry window allows you to create the tangible fixed asset note as it appears in the company's financial statements. An example layout is seen when you first open the data entry window. Alternatively, the information held within CCH Accounts Production will be updated into this area when selecting Update from Accounts within the corporation tax return or as an integral part of the automatic update based upon the settings in the client Tax Links tab. 42 CORPORATION TAX USER GUIDE

49 Trade Intangible Fixed Assets A separate data entry area to record details of Trade Intangible fixed Assets is available. The amortisation as shown in the accounts can be recorded together with any adjustment required to arrive at the amount eligible for tax relief. Additions Analysis To create the analysis of additions for the period highlight the Additions row in the Tangible fixed asset window and right click to reveal a set of options. Select the Insert analysis option. The additions analysis window will be displayed. Complete the rows with details of the additions made in the period ensuring that all the necessary options are selected. Details of the analysis can be manually added or alternatively by importing a CSV file or copying from an Excel spreadsheet. Note that the csv must have a specific format which should include Description, Date and Cost text as entries on the first row of the file. Balance sheet category - completing this will ensure that a reconciliation of the additions per the balance sheet is made. Trade/business - complete this entry to ensure that capital allowances are created and adjusted against the correct trade or management expenses. Pool type - select the pool type to claim the appropriate capital allowance. Allowance type - the list of allowance type will be displayed relevant to the pool type. Once the information for all rows has been completed click the Link button to create the capital allowances with the information contained in the analysis. CORPORATION TAX USER GUIDE

50 Warnings will be displayed where there are inconsistencies between the total amount of balance sheet cost entries do not equal the amount as seen on the Tangible fixed asset window. There will also be a warning displayed where an item in the analysis has not be linked to a capital allowance area within CCH Corporation Tax. To identify that an asset is not qualifying for capital allowances simply select Non-qualifying from the Trade/business option. This will create an entry in the Non-qualifying assets data entry window. Non-Qualifying Assets Assets identified as not qualifying for capital allowances in the additions analysis window will be shown here. Entries created in this way will display the value in the Additions field cannot be changed from here. Any amendments will need to be made within the additions analysis area. Any historical data can be recorded here by simply adding the information. Information here relevant to the calculation of Deferred Tax will be automatically updated in the Net book values and Current tax reconciliation data entry areas within the Deferred Tax module. 44 CORPORATION TAX USER GUIDE

51 Disposals Analysis The creation of analysis of disposals made in the period operates in a similar way as the creation of additions analysis. The disposals relating to the Main and special rate pools will be automatically linked and the value updated in the pool calculations once all information is entered into the disposal analysis window. Ensure that you tab off the row to complete the link. Links to assets disposed of where claims to capital allowances were made in the following single asset pool type will require you to select the appropriate asset: Short life assets Other assets R&D allownces BPRA CORPORATION TAX USER GUIDE

52 Deferred Tax Module The Deferred Tax module within CCH Corporation Tax has been updated to incorporate further automation and integration with other areas of the software. Net Book Values The Net Book values data entry window will be automatically completed with the information held within the Tangible fixed asset area including corresponding information completed in the Non-qualifying assets data entry area. The window will display the values as contained within the financial statements for the period which includes assets that do not qualify for capital allowances. Therefore the row relating to Non-qualifying assets will be deducted to arrive at the movements and net book values relating to qualifying assets necessary for the calculation of deferred tax. The data entry grid also contains two additional rows in which to enter details of Trade Intangible fixed assets and Finance lease assets which are not included in the Tangible fixed Asset information. Current Tax Reconciliation The Current tax reconciliation data entry area has also been updated. The Non-qualifying depreciation box is now automatically completed with the value of depreciation relating to non-qualifying assets. A new box entitled Other non-qualifying depreciation has been introduced to allow for the entry of depreciation arising on other non-qualifying assets not already accounted for. 46 CORPORATION TAX USER GUIDE

53 Annual Investment Allowance AIA screen is located under the Tax planning node on the data navigator Hyperlink located on the Main pool and Special rate pool data entry screens Clicking on the hyperlink takes you to the AIA claim tab. CORPORATION TAX USER GUIDE

54 Losses and Claims A full interactive losses overview is located under Tax planning node on the data navigator. Use to make loss claims on most types of loss and excess Hyperlinks from Loss Utilisation screen guide you to the source of the loss. Group relief surrender claims and surrender of losses for Tax credit should be made here in the first instance with hyperlinks to CT600C Group Surrenders and Tax credits data entry screens. Tax return other information Main return data screen is located under the Tax return information CT600 node on the data navigator 48 CORPORATION TAX USER GUIDE

55 Contains fields required for the completion of Page 1 of the CT600 return form: Company Address (imported from Central) UTR (imported from Central) Company registration number Supplementary pages attached Signatory information Attaching accounts and computations Ensure that you select the correct radio button to indicate whether accounts and/or computations are attached for the period, different period or none attached and select the appropriate reason if no accounts and/or computations are being attached to the return for the accounting period. Repayment claims Repayments screen is located under the Tax return information - CT600 node on the data navigator Participators and Associates Loans to Participators and Associates screen is located under the Tax return information CT600 node on the data navigator CORPORATION TAX USER GUIDE

56 The Name of participator or associate field in the CT600A participator inspector window has a drop down list of the names where they are recorded as a participator. The list will display all associations with the relationship type of "Has participator of" whether the association was created manually from within Central or by creating an automatic association by selecting a name from the search window. The names displayed in this list will only contain those associations where the Start date or End date in the associated record do not fall outside of the accounting period in which you are working in. CT600 supplementary pages CT600A to CT600J are located under Tax return information Accessible via hyperlinks on the Tax return information screen. 50 CORPORATION TAX USER GUIDE

57 Quarterly instalments and tax payments Located in the Tax payments screen accessed directly from the data navigator. You will need to provide CCH Corporation Tax with the necessary information to calculate Quarterly instalments for the first accounting period created. In later accounting periods it will use the previous period liability to evaluate the necessary instalments (providing the level of profits have been entered). Corporation Tax Workflow CCH Corporation Tax is integrated with Central Workflow providing the ability to create a workflow to track the progress of task based steps relating to Corporation Tax. It can be attached when creating a new period of account. Or it can be added at a later time, from the Tasks menu. CORPORATION TAX USER GUIDE

58 A Corporation Tax workflow template has been provided and is ready to use. You can also create your own workflows. Clients wishing to use the Corporation Tax Workflow should refer to CCH Corporation Tax Workflow User Guide. HMRC CT600 User Guides The published HMRC CT600 user guides are available to view from within CCH Corporation Tax. To view the guide, click on the View option and select HMRC Help. The PDF Guide will appear in a separate window. The guide relating to the 2008 and 2015 versions of the CT600 are contained within the same PDF document. The guide relating to the 2008 version of the CT600 begins on page CORPORATION TAX USER GUIDE

59 Groups module CCH Corporation Tax incorporates a Groups module which provides the ability to see an overview of the loss position for each company within a Group. The module also allows you to allocate those losses around the group companies in the most effective way. The losses allocated within the group module will update the individual companies within group relief claims and surrenders minimising the keying in of data in these areas. Clients wishing to use the Corporation Tax Groups Module should refer to CCH Corporation Tax Groups User Guide. Import/Export CT Clients Importing and exporting a Client allows you to create a file containing a limited amount of the Central data and all the Corporation Tax data for all periods of account. Export a client Click on the File menu and then CT Import/Export - Export. You can search on any part of the name or code. You will be presented with a list of clients. CORPORATION TAX USER GUIDE

60 Once the client or clients have been located tick the box next to the client code. You can export a single client or multiple clients at the same time. Click Next. You will be asked to select a file to export to. Ensure you name the file in a location you have easy access to. Import a client Click on the File menu and then CT Import/Export - Import. Browse to locate your import file. You will see the clients contained in the field. You will be informed if the client code already exists in the database You can choose to import the data into a new client by entering a new client code in the Import as field. If you do not enter a new code the data will be imported into this existing client and the data will be overwritten. Travel Clients Travelling clients allows you to take the Corporation Tax and associated Central data for clients out of the office to work on offline. Clients wishing to use the Travel Clients function should refer to the Managing Data Externally User Guide. 54 CORPORATION TAX USER GUIDE