Topic results Tax Computation

CCH Corporation Tax
Non Trade Loan Relationships
This document outlines topics related to Non Trade Loan Relationships in corporate tax computations. It includes links to sections on Non Trade Loan Relationship Summary, Credits, and Debits, detailing how to input and summarize these tax-related items in the Data Navigator. Each section describes the process for entering data and how totals are summarized for reporting purposes. Additionally, it links to related topics like Foreign Income and Miscellaneous Income.
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CCH Corporation Tax
Creating a Profit and Loss
This document outlines the procedures for creating a Profit & Loss statement within CCH Corporation Tax. It details methods for generating the statement, including updating from CCH Accounts Production, customizing manually, and utilizing previously created templates. The section includes links for further guidance on each method of implementation, ensuring users can effectively reproduce detailed financial statements.
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CCH Corporation Tax
Capital Allowances
This document provides guidance on inputting capital assets eligible for Annual Investment Allowances (AIA) and presents a summary of claims for Capital Allowances on a period-by-period basis. Key topics include various pools such as Main Pool, Special Rate Pool, and Enhanced Capital Allowances, along with specific categories like Short Life Assets and Structures and Buildings Allowances. It also covers further details on Research & Development Allowances and patents. The document serves as a resource for understanding and managing capital allowances effectively within corporate tax frameworks.
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CCH Corporation Tax
Balance Sheet Analysis
This document provides guidance on using the Tangible Fixed Assets summary in financial reporting. It explains how to populate and edit the Tangible Fixed Assets statement via manual entry or updates from CCH Accounts Production, utilizing standard or customized templates. Additionally, it covers how to analyze additions and disposals of assets during the accounting period and outlines the process for recording non-qualifying assets that do not qualify for capital allowances. Key features include links to relevant sections for creating analyses and templates.
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CCH Corporation Tax
Provisions
This document outlines the procedure for recording tax provisions related to Bad Debts, Pensions, and Remuneration in accounting records. It details how to enter relevant data in the Trading Income section and specifies the process for managing carry-forward amounts, tax adjustments, and other movements related to provisions. Automatic calculations for tax adjustments are highlighted, which impact adjusted trading profit/loss. The document includes references for further information on trade data entry.
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CCH Corporation Tax
Restricted Loss
The document outlines the features related to reporting restricted losses for properties with specific conditions in a tax planning context. It details how property types are categorized, automatic calculations for various financial entries such as losses, profits, and capital allowances. It explains the "Restricted Losses" statement within the Data Navigator and the procedures for managing figures over accounting periods, emphasizing that certain values can be manually overridden. The document aims to assist users in accurately reporting property-related financial data for tax purposes.
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CCH Corporation Tax
Short Life Assets
This document provides instructions on adding short life assets eligible for capital allowance claims within a software interface. It details the location of the input screen, methods for data entry (manual or linked), and necessary information required, including asset descriptions, acquisition dates, and values for tax and allowances. It also outlines features for disposing of assets, disclaiming allowances, and navigating within the software. Overall, the document serves as a comprehensive guide for users managing short life asset claims in a capital allowance context.
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CCH Corporation Tax
Trades
This document segment discusses the management of "Trades" within the CCH Corporation Tax software. It outlines key functionalities such as recording pre-trading expenses to claim relief, creating various trade types with different accounting periods, and entering detailed trade data. Features such as trade summaries, turnover calculations, adjustments, and specific components like pensions and foreign trade are highlighted. Various types of trades and available reliefs, such as the Patent Box and Creative Industry Relief, are also mentioned, providing users with a comprehensive overview of trade management processes.
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CCH Corporation Tax
Lease Premiums
This document provides guidance on claiming tax relief for lease premiums related to land and property. It outlines the process for entering lease details in the Data Navigator, including providing descriptions, dates, and the amount of lease premiums paid or received. Users are instructed to select either Landlord or Tenant based on their trade type, specifying that the Landlord option is available only for UK or Overseas Property Businesses.
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CCH Corporation Tax
Finance Leases2
This document provides guidance on accounting for assets under Finance Leases, specifically detailing how to record payments for tax relief purposes rather than as Capital Allowance. It outlines the data entry process on a Period of Account basis, including sections for asset description, Net Book Value (NBV), additions, disposals, and depreciation. Each entry plays a role in tracking the financial status of leased assets, ultimately affecting their end-of-period valuation. Resources for further assistance in trade data entry are also included.
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CCH Corporation Tax
Bad debts
This document outlines the reporting of bad debts in accounts and the associated tax adjustments. It describes the process for entering relevant data, including previous and current amounts for bad debts, utilized amounts affecting tax adjustments, and other movements that do not impact tax. The document emphasizes the automated calculations for carry forward amounts and tax adjustments, which are incorporated into the trading profit/loss computation. Additionally, it mentions that only one entry is allowed per type of bad debt and provides a link to related trade data entry resources.
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CCH Corporation Tax
BPRA
This document outlines the process for claiming the Business Premises Renovation Allowance (BPRA) on qualifying expenditures. It details how to list the total qualifying addition to a property as a separate asset in the accounting period. Key steps include entering a unique description for each claim, providing acquisition dates, costs, and tax values. Additionally, it mentions how to edit Tax Written Down Values and includes references to related documents for further information on asset qualifications and capital allowances.
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CCH Corporation Tax
Other assets
This document provides guidance on claiming Capital Allowances on qualifying expenditure not relieved elsewhere. It outlines the navigation path within the software (Trading Income > Trading Name > Capital allowances > Other > Other Assets AP) to access the relevant options. Key features include entering unique descriptions for assets, specifying the WDA rate, managing disposal activities, setting nil proceeds for disposals, and editing the tax written down value brought forward. Additional links to related resources on assets qualifying for AIA, BPRA, and patents are also included.
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CCH Corporation Tax
Pre-Trading Expenses
This document segment discusses the management of "Trades" within the CCH Corporation Tax software. It outlines key functionalities such as recording pre-trading expenses to claim relief, creating various trade types with different accounting periods, and entering detailed trade data. Features such as trade summaries, turnover calculations, adjustments, and specific components like pensions and foreign trade are highlighted. Various types of trades and available reliefs, such as the Patent Box and Creative Industry Relief, are also mentioned, providing users with a comprehensive overview of trade management processes.
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CCH Corporation Tax
Disposals Analysis
This document outlines the process for analyzing fixed asset disposals and reconciling these disposals within capital allowance pools. It specifies how to manually enter or import disposals from a CSV file, detailing the required format and columns. The document elaborates on key entries necessary for proper analysis, such as description, disposal date, balance sheet cost, and disposal proceeds. It also addresses categorization options like trade/business and pool type, as well as linking disposals to relevant assets for accurate reporting in the software.
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CCH Corporation Tax
Transfer Pricing
The document details the Transfer Pricing statement found under Trading Income in the Data Navigator. It emphasizes the need for manual entry of adjustments for each Accounting Period, as the software does not automatically apportion these adjustments. Additionally, it includes a link to related resources on Trade Data Entry for further guidance.
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CCH Corporation Tax
Anti Avoidance
This document provides guidelines for entering trading income into a software system. Key points include the need for manual entry of descriptions and amounts, as the software does not automatically handle time apportionment adjustments. Additionally, when multiple accounting periods are involved, amounts must be entered separately for each period. A link to further resources on trade data entry is also included.
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CCH Corporation Tax
Research and Development
This document outlines the process for claiming additional tax relief on Research and Development (R&D) expenditures, including the Above the Line Tax Credit, effective from April 1, 2013. It presents two data entry methods for R&D expenses: detailed entry with specific descriptions and expenditure types or a summary of total expenditure. It highlights the importance of correctly entering the expenditure date, amounts, and any capitalized R&D. The document also mentions the automatic calculations of additional deductions and total enhanced expenditure, along with guidance on claiming relief for loss surrender and tax credits.
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CCH Corporation Tax
Current Period memorandum
This document explains the visual representation of a company's Profit Corporation Tax Computation Tax (PCTCT) impacted by claiming losses and reliefs. It features a Current Period Memorandum showing total profits before current year reliefs, which can be hidden or shown. Additionally, it contains links for further guidance on claiming relief for losses, surrendering losses as group relief, and tax credits. The content is read-only, and users can navigate to summaries detailing the corporation tax liability calculations.
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CCH Corporation Tax
Claiming Relief for Losses / Loss Utilisation
This document provides guidance on managing tax losses within the "Tax Planning" section of the Data Navigator. It covers loss utilization, including entering different types of losses, the process for splitting losses brought forward before and after March 17, and calculating amounts carried forward or utilized. It also addresses losses from partnerships, instructing on how to offset these against total profits. Additional features include options to display maximum available losses, handle claims for tax credits, and manage group relief surrenders. Overall, it serves as a detailed reference for effectively managing tax losses in corporate accounting.
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CCH Corporation Tax
Surrendering losses as Group Relief
This document provides instructions on how to enter capital disposals for tax computations in two scenarios: for the transferor company with losses and the transferee company with gains. The transferor should record losses under "Other loss adjustments" to zero out the loss, while the transferee should use "Other gain adjustments" to apply the transferred losses against its gains. Additionally, it notes that users can add notes to the computation if needed.
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CCH Corporation Tax
Enhanced Capital Allowances - Super Deductions
This document provides guidance on applying 'super deductions' for Enhanced Capital Allowances, which include a 130% and a 50% enhanced allowance. Users are instructed to link allowances from the Additions or Disposals Analysis input screens in the Balance Sheet Analysis area. The process involves entering a description, date of expenditure, and cost to calculate the claimed enhanced capital allowance. Additionally, it describes how to enter a disposal value to compute enhanced balancing charges. Visual aids are included to assist with data entry.
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CCH Corporation Tax
Disallowables / Adjustments
The document provides guidance on entering expenditure in the profit and loss account that is not allowable for tax and details on making necessary adjustments. It explains using the Data Navigator for disallowable adjustments, including descriptions, linking, and entering amounts. Users can analyze entries through a detailed analysis window, ensuring accuracy in reconciliations. It outlines how to handle allowable amortization related to depreciation adjustments. Additionally, it notes that updating the Corporation Tax period will trigger a warning, though it won’t affect online submission.
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CCH Personal Tax
Tax Factory
Tax Factory is a software solution designed to enhance the efficiency and accuracy of tax-related tasks for accounting practices. It offers a range of functionalities that optimize processes and improve overall performance.
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