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Steven Tuckwell launches new Corporation Tax Pro tool

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21st Jul 2005
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AccountingWEB member Steven Tuckwell has produced a new, Excel-based program called ,Corporation Tax Pro, now available exclusively from AccountingWEB.

Tuckwell is a practice manager for Bibby Webb & Co and after getting frustrated with the lack of suitable tax calculation tools he started creating his own programs with Excel a couple of years ago. AccountingWEB members will already be familiar with his Corporation Tax Calculator and Partnership Calculator. Corporation Tax Pro is an entirely new package for which Tuckwell has gained HM Revenue & Customs approval for the computations and CT600 forms it produces.

The introduction of the non-corporate distribution rate in the 2004 Budget was the trigger for Tuckwell's new product. Corporation Tax already demanded a vast number of calculations from accountants, including regulations regarding long accounting periods, franked investment income, changes in first year capital allowances and so on.

"The time soon mounts up in when preparing even a simple case," Tuckwell told AccountingWEB.

The application is based on Excel template screens for data input and is designed to produce CT600(short) return with full computations in less than 30 minutes. The returns and computations are HMRC-approved and can be submitted to any Inland Revenue office as a substitute.

"I would be surprised if your first attempt takes longer than one hour to get from the profits per accounts to a final printed CT600," said Tuckwell. "The program will produce the CT600 pages in either colour or black and white and will even produce a future profits matrix to give to clients to show the amount tax payable of future profits depending on dividend drawn."

AccountingWEB members and users of his previous tax packages played a key role in helping Tuckwell develop his latest product. Five accountancy firms offered their feedback during development and tested it before the product was launched this week.

"If you haven't used any CT software before this is the easiest introduction to the computerisation of Corporation Tax you're likely to find on the market," commented beta test user Caplan Associates.

Corporation Tax Pro isavailable exclusively from AccountingWEB for £100+VAT. As part of a special introductory offer, anyone buying Corporation Tax Pro before 31 July will get a free copy of Steven's original Corporation Tax Calculator worth £50. Users of the original calculator can upgrade the new product for £60. For details of our special offers, email Craig Neilson

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