Sarah Offord
Chartered Management Accountant
Midas Accountancy
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VT iXBRL Computations

VT iXBRL Computations

Please could someone help? I am trying to claim R&D Relief for a client, but cannot see how to input it on the computations on the VT iXBRL Generator? Is there a specific place that it should be entered on the computations sheet? I may be being a bit thick! Thank you in advance for any help!

SD

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28th Oct 2011 09:40

Add the item you want and then tag it

As the tax computation is in Excel, you can format it anyway you think appropriate. We provide only an initial basic layout, or you can tag your own computation in any Excel workbook.

Any changes you make to the VT layout ought to be tagged, although I'm not sure anything much would happen if you did not. To tag qualifying R&D expenditure:

Select the cell containing the amountClick the Set Tag (Comprehensive) buttonIn the  Set Tag (Comprehensive) dialog, click on the drop down list at the top and select the C. Schedule D Case 1 Trading profits and losses categorySelect Qualifying expenditure on row 268 (sic) of the list of tags and click OK (see screenshot)

Tags are a bit hard to find as there are a total of 1,391 in the minimum version of the taxonomy supplied by HMRC. There is not much VT can do about that, except that we do provide a search option at the top of the dialog.

You can check that the cell is correctly tagged by looking at the status bar at the bottom left of Excel (see screenshot).

Philip Hodgson
VT Software

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28th Oct 2011 11:05

Philip

Thank you so much for a very comprehensive and helpful response.

I have to be honest, I have gone from not at all keen on VT to finding it's the best money I've invested in my practice this year!

SD

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