CCH Corporation Tax
Other Deductions - Charitable
You can use this to claim relief for qualifying Charitable Donations paid, e.g. Gift Aid payments.
Topic results Taxable Income And Deductions
CCH Personal Tax
Trade Annuities and Patent Royalties
This document provides a step-by-step guide on how to add Trade Annuities and Patent Royalties in a specific section. It instructs users to enter the payee's name, payment date (for the current tax period), and the total amount paid, which will then appear in the summary. The final step is to click 'Save' to finalize the entry.
CCH Personal Tax
Residence and FIG regime etc.
This document outlines the procedures for entering client residence status for tax purposes within the Non-Residence section, which varies by tax year. Notable updates include the reinstatement of box 11.1 for transit days, enhancements to the Time spent in the UK tab, and the addition of a checkbox for UK income under qualifying asset holding company rules. These changes facilitate accurate data entry for taxpayers regarding their residency and remittance basis.
CCH Personal Tax
Post Cessation Expenses
This document outlines the process for claiming tax relief for post-cessation business expenses. Individuals must submit their claims within seven years of exiting the business and can claim relief for various expenses such as remedies for defective work and related services or goods. The document also details how to enter claims in the tax system, requiring the selection of claim type, description, and amounts against income and capital gains for the current tax year.
CCH Personal Tax
Interest Paid on Qualifying Loans
The document provides guidance on how to enter interest paid on qualifying loans, emphasizing that interest on loans for purchasing rental properties or the main home should not be included. Instructions are provided on how to access the relevant section and input details such as the loan type, purpose, and amount of interest paid, with an option to complete additional account fields or save the information. Refer to Help Sheet HS340 for more details.
CCH Personal Tax
Farmers Averaging
This document outlines the farmers' averaging provisions for tax calculations, highlighting the options for a 2 or 5-year averaging scheme. It introduces a new averaging calculator for ease of use starting from the 2016/17 tax year. Farmers must confirm their eligibility for averaging, while artistic or literary businesses are restricted to 2-year averaging. The document provides detailed instructions on accessing the averaging calculation, applying adjustments, and using these calculations within partnership tax returns. It also notes how revised tax positions and changes in tax responsibilities are recorded, with specific references to HMRC requirements.