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CT600 R&D tax credits

I have just one client who is making a small R&D tax credit claim this year (y/e 31 March 2011) - the claim amount is just over £10,000. As I understand it I have to file the CT600 electronically (and include iXBRL accounts) but I cannot use the HMRC software. So my only choice is to buy software at some cost to file this claim ! Is this correct ?

I use PTP for accounts production and their CT software is £135. Is there anything cheaper than this that works. I only need it for this one final return this year (all my very few clients have 31 March year ends) !

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3rd party software

Don't you think 3rd party software is better and more cost effective?

 

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maybe if ....

Maybe it would be if I had a lot of clients. However, I only work part-time, have fewer than 10 corporate clients and only one with more than basic needs. So I have the time to use the HMRC software and don't usually need to invest in buying and learning 3rd party software to file returns. This one return has me stumped and I was looking for a way where the client would not have to pay £100+ just to file their tax return.

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sub contract it

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sub contract it

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HMRC say you can submit a return using their free software by ticking the tax credits box http://www.hmrc.gov.uk/ct/managing/company-tax-return/returns/form.htm
If you have 10 clients and PTP software is £135 that's £13.50 a client, plus you save time after the initial learning curve. Are you really sure the software isn't worth it?

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@uktaxpal - good idea, thanks.

@newmoon - yes agreed for 2012 but I only have one left for 2011 :( Lesson learnt but it's still a cost to file a return which seems unfair. I couldn't find where it says I can tick a tax credits box. I have checked the return form again and can't find such a box.

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Box 99

@ newmoon - I have found the comment about ticking the box ! However that box doesn't appear on HMRC's own software ! Quelle surpise.

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I don't suppose I am surprised either!

gerrysims wrote:

@ newmoon - I have found the comment about ticking the box ! However that box doesn't appear on HMRC's own software ! Quelle surpise.

That's reasonably typical!

Good luck.

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or alternatively

File the return electronically without the claim and then send a manual amendment in by post the following week. No extra purchase needed.

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RandD has the pragmatic [= correct] attitude and approach

RandD wrote:

File the return electronically without the claim and then send a manual amendment in by post the following week. No extra purchase needed.

A good pragmatic approach.

unlike...

the comment about "undermining online filing":

Online filing most certainly DOES need undermining when HMRC choose an idiotic software language like iXBRL - a software language NEVER used by small businesses.

A problem creating profits for software companies at the expense of small business.

Just what happens when "the idiots are in charge".

Undermines the OTS objectives (except in the misleading view of a certain out of touch high up imbecile who allegedly chipped in and said something like it will "save small businesses money" by being able to file CT returns & Abbreviated Accounts simultaneously).

[Abosultely no need to have simultaeneous filing, as no problems filing Abb Accs with Co's House separately].

 

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It's a good idea, but

I am sure this would work but it seems to undermine the policy of online filing.

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Sensible

My comment about undermining online filing wasn't meant to be pragmatic.

I think online filing is sensible. I am filing online without any problems. It is good for me and good for HMRC. People who dislike online filing will simply disappear.

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Online in principle is great

I thoroughly support the concept of online filing - be it VAT returns, PAYE returns or IT SA returns.

Problem I have is that with CT HMRC went way off track using a computer reporting language only normally used by multi-national companies (XBRL becoming iXBRL) causing the sort of issues that we have here.  HMRC got it wrong plain and simple.   If HMRC got it right then the commercial software would be VERY cheap (like SA software for individuals and partnerships)and the alternative of using HMRC's own .pdf based software would be quick and easy.

It was RandD who was pragmatic, by the way - just my way of thinking.

 

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Digita

"If HMRC got it right then the commercial software would be VERY cheap (like SA software for individuals and partnerships)and the alternative of using HMRC's own .pdf based software would be quick and easy."

 

When is HMRC likely to get everything right?

I use Digita and both the  personal tax software and company tax software is very cheap but good quality. I pay a few pounds for each client.

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Small scale iXBRL filing is costly

The poster has the problem that he/she has only ONE CT filing that falls into one of "no can do" exceptions.

 

Some firms might have only 3 or 4 CT filings.

 

Divide the cost of software by this number of filings and the flaw in iXBRL costs is exposed.

 

Some companies have done in house CT filings in the past without recourse to the cost of external accountants - but this iXBRL garabage is changing things in favour of (a) Software companies making money and (b) Firms of accountants gaining extra work - ultimately at the cost of small Ltd Co's.     A principle that I do NOT like.    If I were to be an avaricious practitioner I'd say "great, let's make more money from small Ltd Co's".  No. NOT my style. 

 

 

 

 

 

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The obvious solution

Rather than getting over-excited about "garbage" and "avaricious practitioners" why don't you suggest the logical solutions? HMRC should either alter their software to accept the previous exceptions or allow them to send in paper copies until they do so.

The OP is concerned about a cost of £135. If £135 causes this sort of problem I am sure they must have more important issues in their business.

Do you fly off the handle like this every time you don't like something?

You should be more careful or you will have a heart attack.

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Me too - but beware!

I have this same issue - I client, minimal r&d claim, (but they still want to do it).  Last year I purchased Andica and had an horrendous time installing it, many many phone calls to the firm and much bandying of words implying that I am a complete IT novice (not true)! Eventually I managed to get it to work, only to find a day later that my computer displayed the blue screen of death.  My IT guy spent many hours trying to find the problem then finally traced it to this software - uninstalling the software and rolling back the system eventually solved the problem.  I have the same issue this year, I actually now almost like HMRC free software, so am going to adopt the pragmatic approach above I think.  Cant risk the hassle by trying andica again (which I use for the odd partnership return where it is too late for paper filing, and find good).

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