I need to file a CT600 with an R&D tax credit claim, and a period end of 30th April 2011.
I have found software that will do the R&D tax credit calculation, and software that will handle the 30th April period end, but nothing that will do both and help me file a correct iXBRL comp. So far I've looked at Sage, Keytime, Absolute Tax, TaxCalc and Ftax.
Has anyone filed such a return successfully, and if so which tax software did you use?
Thanks in advance
Replies (6)
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Handle 30th April period?
What do you mean by handle the 30th April period? Do you mean submit it to HMRC or just be able to use the new R&D rates?
Hopefully helpful
Hi Gilly.
We (Keytime) can handle the R & D tax credit calculation, and file a zero liability return with an end date of 30th April 2011. Sadly, no software provider (including HMRC) can handle filing a return with a liability and that period end until HMRC update the gateway in the autumn.
If you did have any questions about how to achieve the R&D calculation / zero liability submission in Keytime, let me know, either here, or by emailing [email protected], and one of our helpful technical bods will be happy to walk you through it.
TRY DIGITA
Have just moved to Digita as a number of complicated clients which others can't handle. Software very good and prices very sensible.
Re 30th April
This is a HMRC problem - see http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageOnlineServices_ShowContent&id=HMCE_PROD1_026876&propertyType=document. I have asked HMRC, via Working Together, why is it that my CT software (PTP) which costs £135 has been adjusted for the rate change, but HMRC's £multi-million has not. Though PTP has been adjusted for the rate change, HMRC will reject the CT Returns because HMRC's systems are unable to verify the rate. However you can file if there is no CT payable.
I feel HMRC's excuse about Royal Ascent is far too weak - after all HMRC are currently collecting tax based on 2011 rates. Personally, I don't feel us agents should sit back and let HMRC dictate to us. Instead we should file on paper with a Reasonable Excuse form available at http://www.hmrc.gov.uk/carter/sa-reasonableexcuse.pdf.
Can't answer your question re R&D. On PTP you have to insert the figures manually.