Where to Find the Data in Personal Tax

This part of the tutorial is designed to show users where the transferred figures appear in Personal Tax.

Select Personal Tax and when the main menu is displayed enter HECTOR/S in the identifier field.
Reply 'Yes' when asked whether to make HECTOR/S a client for Personal Tax.
Click New Data.
Check that the tax year in the top right corner is 2008. If not click the arrow next to the field and select 2008 from the list of tax years.
Click on the + next to Trade, Profession or Vocation.
Click on Sole Trade or Partnership.
As Mr Hector only operates one trade, "HECTOR" will already be selected for you in the top half of the screen.
We need to check the data for 31 August 2007 so double-click 31/8/07 in the bottom half of the screen.

Gross Profit

The Gross Profit tab will be on top.

If you compare the screen with the trading and profit and loss account generated from Accounts Production you will find that the figures in the screen correspond to the trading account.

Personal Tax	Business Tax	Accounts Production
Sales/business income		Sales : 2
Cost of sales		Opening stock : 62 Purchases : 71 Closing stock : 127
Other direct costs	Depreciation automatically entered as disallowed	Depreciation : 118 Wages : 104 Social security: 105
Other income		Rents received : 53 Deposit interest : 153

Expenses

Next select the Expenses tab.

Amounts in the "Total Expenses" column correspond to amounts entered in Accounts Production.

Amounts in the "Disallowable Expenses" column are postings made in Business Tax as well as the automatic adjustments made for depreciation etc.

The table below explains how the values in the above screen have been derived from Accounts Production and Business Tax.

Personal Tax	Business Tax	Accounts Production
Premises costs		Insurance : 274 Light and heat : 275
Repairs		Repairs : 276
General administrative expenses		Telephone: 190 Post and stat : 191 Subsistence : 196 Sundries : 209 Subscriptions : 232
Motor expenses	Disallowable expense posting of 25% of the totals of account 194.	Motor expenses : 194
Travel and subsistence		Travelling : 193
Advertising/promotion /entertainment	Disallowable expenses in account 249	Entertainment : 249
Legal and professional costs		Accountancy : 215 Legal fees : 220
Interest		Bank loan interest : 291
Other finance charges		Hire purchase : 305
Depreciation/loss (profit) on sale	Depreciation on freehold property and motor vehicles and loss on disposal of motor vehicles automatically disallowed.	Freehold depn : 315 Motor depn : 321 Motor disposal : 331

Capital Allowances

Select the Capital Allowances tab.

The allowances shown on this screen are those calculated in the Capital Allowances option in Business Tax.

Balance Sheet

Select the Balance Sheet tab.

Personal Tax	Accounts Production
Plant. machinery and motor vehicles	Plant : 524 - 527 - 528 Motor : 536 + 567 - 538 - 539 - 570 + 541
Other fixed assets	Freehold 500 - 503 - 504
Stock and work in progress	Stock : 601
Debtors / prepayments / other current assets	Trade debtors : 610 Prepayments : 614
Bank / building society balances	Bank a/c 1 : 646
Trade creditors / accruals	Trade creditors: 656 Accruals : 671
Loans overdrawn bank a/c	Bank loan < 1 year : 675 Bank loan > 1 year : 686
Other liabilities	Social security etc. 667 Hire purchase < 1 yr : 717-723 Hire purchase > 1 yr : 718-724

Balance at start of period	Balance brought forward : 771
Net profit or loss	Per accounts
Drawings	Drawings : 776