Make changes to Accounts (within Taxfiler by IRIS) after both returns have been created

1. Make the changes required to the trial balance, and save changes.

2. Select the Check & File tab.

3. Select Re-attach.

4. A warning message displays stating that a set of accounts is already attached, and that these will be replaced with the new set of accounts. Select Confirm Overwrite if you wish to continue.

5. Select Update amounts to Tax Return.

The values are updated by Taxfiler by IRIS to the first return for the 12 month period.

6. Save the changes and open the second return for the shorter period. Select the Trading profits tab from the Data Input screen, where you will need to manually update the Total turnover in the period of account.

7. You will need to update the Taxable trade profit /(loss) value via the Adjustments to trade profit tab. Enter the full amount for the accounting period, and save changes.

8. Return to the Trade Summary tab and you will see that the Profit / (loss) has been apportioned for the shorter period.

Making changes to the tax returns after creating both returns, not using Taxfiler by IRIS accounting module

1. Make the changes in the first 12 month return by selecting the Trade Summary tab from the data input screen and updating the Total turnover in the period of account.

2. Next select the Adjustments to trade profit tab, update the Net profit/(loss) per the accounts.

3. Select Edit beside any of the entries that need to be updated, when complete select Save changes.

4. Open the second return for the shorter period, repeat the steps above to update any values. Note the values for the full accounting period are entered, Taxfiler by IRIS will apportion the amounts for the tax return.

5. Return to the Trade summary tab and you will see that the Profit / (loss) has been apportioned for the shorter period.

Dormant accounts

When there is a long accounting period where the company is dormant for a portion of the accounting period you will need to follow the process for a long accounting period, and remove the apportionment option, so that you can manually allocate the figures to the correct period.

The system will always create the CT600 return for a 12-month period first, followed by the remaining shorter period.

1. Where the dormant period is the initial few months (less than a year) edit the accounting periods in the client/case details tab and within the tax return manually enter the values in the Adjustments to trade profit tab to force this to be the second return for the non-dormant period.

2. Make sure that you have deselected the ‘apportionment‘ option before creating the second return (see below for instructions).

3. Select + New Tax Return from within the Tax Returns tab and type in the dates for the earlier part of the period. Do not include the accounts with this return, but remember to select from the drop-down list on the company information screen within the Data Input tab, ‘Not included – submitted with accompanying return’ or ‘Not included – company dormant’.

The dormant period will only be linked by the date for the return and the fact that you have selected ‘submitting more than 1 return‘ for both returns on the Company information data sheet within the data input tab.

When you remove the option for apportionment in the trading profits section, the link between the two returns will be removed and the costs will need to be entered manually.

1. To deselect the option, select the Trading profits data sheet, under the Trade summary tab, and select Change.

2. Deselect the ‘apportioned’ option.

You should see the full amount for the period charged to this 12-month portion of the return.

The box showing the ‘Profit /(Loss) apportioned to the accounting period’ has been removed.