Hi, I am looking at options of using some template calculators for CT, Capital Allowances, etc etc as a form of double checking myself. Does anyone use these? I see that 2020 have some as part of membership. Any other recommendations? Thank you.
Replies (3)
Please login or register to join the discussion.
Software!
I occasionally do a manual calc if I'm not sure the software has got something right, but with the software that is about these days, there is rarely a need for what you are looking for.
I could understand if you were looking for templates to enable you to double check, say, a complex CGT calculation, or to compare different profit extraction methods, but for CT, CAs etc., standard tax return software would suffice.
Talking of profit extraction, Absolute do a spreadsheet called (I think) Taxpert. It will, by necessity, calculate CT and IT, so perhaps this would suit your needs.
I know lots of people who have built calculators in Excel for double checks, however Manchester_Man is right - if you can't trust your software to get it right then it's time to change supplier.
The only time you should ever need to use a template is if there is something your software cannot handle...but again maybe time to review your software solution?
How do you manage to file a Corporation Tax return without using some software like Taxfiler or IRIS that insists on performing these calculations for you? You do run a Tax Computation to give to the client with the Financial Statements?