What's new in IRIS Taxfiler by IRIS

Product update - April 2024

Due to legislative changes, the following updates have been made:

Self-employment tax returns (SA103)

Updates to:

  • Accounting period section
  • Capital allowances and non-taxable items section
  • Add: Balancing charges and Goods for own use section
  • Adjustments section
  • Losses, other income and deductions section

New section added:

  • Transitional profit section

See Self-employment.

Partnership tax returns (SA104)

Updates to:

  • Trading profits section
  • Balances carried forward section
  • Overlap relief on untaxed income section

See Partnership.

Updates to SA901 tax return sections

Updates to:

  • Capital allowances section
  • Accounting period section
  • Basis period adjustments section
  • Profit /(loss) calculation section

New section added:

  • Transitional profit section

See Trade profit / (loss)

Updates to SA902 tax return sections

Updates to:

  • Overlap relief section
  • Profit and losses section

New section added:

  • Transitional profit section

See Partnership profit / (loss).

Product update - version 2023.6

RDEC Rate increase

From the 1st April 2023 the rate applied to RDEC claims will be 20% this is an increase from 13%, the software has been updated to reflect this change for periods starting on/after and straddling the 1st April 2023.

2022/23 Dividend database update

Bug Fixes

  • Questionnaire – When creating a Questionnaire in either 2021/22 or 2022/23 the address for an income from property was appearing on the Questionnaire, this has be corrected for 2022/23 onwards.

  • SA100 – Successfully resolved the filing issue that was presented to users when attempting to file a SA return with data entered on the residence pages within the field “Days attributed to working at midnight in UK”.

  • SA100 – Employment pages were not being generated when selecting the tax return tab where this section had been added for a new client.

  • SA100 – The “Total income tax due” entry on the SA302 was not being displayed when selecting the tax calculation tab.

  • CT600 – Box 775 was not being populated where High CO2 cars field had been completed with the capital allowances section.

  • CT600 – Marginal Relief was not calculating correctly as it was not taking into account ABGH distributions.

  • CT600L – Box L55 was not being populated correctly based on expenditure entered

  • SA900 – Formatting issue corrected where box 21.4 was completed for a 22/23 & 23/24 SA900 tax return.

Summary of previous releases

No significant customer features.

No significant customer features.

Bug fix:

CT600 - Marginal Relief was being calculated incorrectly where the accounting period covered financial year 2023.

Corporation tax RIM Artefact updates

We have updated the software to the latest HMRC RIM Artefacts. This will allow for CT600 returns that start on / after or straddle the 1st April 2023 to be submitted successfully to HMRC.

RDEC rate increase

From the 1st April 2023 the rate applied to RDEC claims will be 20% this is an increase from 13%, the software has been updated to reflect this change for periods starting on/after and straddling the 1st April 2023.

No significant customer features.

  • SA100 – error message presenting when attempting to run the capital gains computation.

  • SA100 – roll forward routine not bringing forward individual expenses for UK property income.

  • SA100 - mapping correction for QAHC section within Capital Gains.

  • R40 – entering a value within “Dividend income (taxed at 7.5%) not being reflected on the R40.

  • CT600 – an error message is being present when attempting to attach accounts more than 8mb, this software restriction of accounts file size has been updated to only present where the limit of 20mb has been exceeded.

  • Price increase for non agents from 1st May 2023

  • Updated product to allow generation of 2023/24 returns (Individual, Partnership & Trusts).

  • Updated the product to incorporate the 2023/24 known rates for calculation.

  • Updated R40 form for tax year 2022/23

  • Updated product to allow batch generation of 2022/23 questionnaires.

  • Restriction on the file size of accounts attached to a return has been increased to 20mb.

  • Bug resolved – importing trial balance data from 3rd party software and pasting from clipboard.

  • Code added to prepare for migration functionality to enable data migration from the TaxFiler product to IRIS Elements. Please note that migration of data to IRIS Elements is not currently available.  More information will be issued in due course.

  • Self-Assessment – updated 2022/23 tax calculations.

  • SA100/SA900 – estimate note removed from 2022/23 tax calculation.

  • SA100/SA800/SA900 – ability to download 2022/23 tax return.

  • All Tax – functionality enabled to bulk roll forward tax returns for 2022/23.

  • SA100 Mapping update – (Pension payments section) Where indicated as a one-off payment for “Payments into registered schemes and retirement annuity contacts” the entry will now map to Box 1.1 TR4 for 2022/23.

  • SA107 Mapping update – Entries made within “Dividend income (taxed at 7.55)” within the income from UK estate section will now map to box 18.1 on page T2 for 2022/23.

  • SA108 new data entry fields – the capital gains section has been updated to accommodate for gains that have arisen from a qualifying asset holding company (QAHC). Entries made within this section will be mapped to the new boxes 52EG, QG and QL of the 22/23 CG4.

  • SA109 mapping update – entries made to “Do you have UK income/gains deemed to be foreign under QAHC rules” within the remittance section will now map to 39.1 on page RR3 for 2022/23.

  • SA905 new data entry fields – the capital gains section has been updated to accommodate for gains that have arisen from a qualifying asset holding company (QAHC). Entries made within this section will be mapped to the new boxes 5.41EG, QG & QL of the 22/23 TC7.

Bug fixes:

  • SA100 – mileage allowance shortfall is now correctly mapped to Box 17 on the SA102 oppose to box 20.

  • SA302 – update to the displayed calculation to show correct breakdown of taxable incomes where capital gains have been entered.

  • SA100 – new data entry field added (From tax year 22/23 onward) to the pension payments section to cater for One off payments made into registered schemes and retirement annuity contracts. (SA100 Page TR4 box 1.1).

  • SA107 – new data entry field added (From tax year 22/23 onward) to the income from UK estate section to cater for dividend income taxed at 7.5% (SA107 box 18.1).

  • SA107 – data entry field removed (from tax year 22/23 onward) from the income from UK estate section to cater for the removal of income taxed at 22% from the SA107.

  • SA107 – wording change to 'Dividend income (After tax)' to 'Dividend income (Excluding income taxed at 7.5%)' within the Income from UK estate section. (Value will continue to map to box 18 on the SA107).

  • SA109 – wording change within the Residence section – “Days attributed to specific COVID-19 related work” is replaced by 'Days attributed to working at midnight in UK when in transit', which will map to box 11.1 on the SA109.

  • Updated all Self-assessment SA100 forms for 2022/23.

  • Updated all Partnership SA800 forms for 2022/23.

  • Updated all Trust SA900 forms for 2022/23.