BTC Software - Basis Period Reform

How to deal with this in BTC self-employment pages

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I have contacted BTC several times but do not appear to be getting the answers I need.

How are others dealing with the basis reform with this software?

Replies (22)

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By SkyBlue22
14th May 2024 15:08

Have you tried contacting your account manager with BTC to ask? I've found in the past that I've got answers I needed (such as when they will be MTD ready), by skipping the support line and just asking the manager to put me in contact with the right person.

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Replying to SkyBlue22:
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By [email protected]
14th May 2024 15:17

I might give this a try - thank you

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By claudialowe
14th May 2024 15:20

I spoke to them last week about this. They are amending their software to allow accounting periods in excess of 18 months. I am quite surprised that this update hasn't happened yet. The work around (they told me) was to create 2 sets of self employment.

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Replying to claudialowe:
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By [email protected]
14th May 2024 15:32

This is what I got told too but then it doesn't appear the tax calc is correct as wants to tax the client on the profits for the whole of the transition period then plus 1/5th for the spreading.
Unless I am missing something.

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By claudialowe
14th May 2024 15:42

That was my concern as well - so I am waiting, for as long as I can........................

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Replying to claudialowe:
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By rmillaree
14th May 2024 16:02

btc works - what is your specific issue / problem ?

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By rmillaree
14th May 2024 16:01

btc works as it should - as they are not tax advisors they rightly refer people back to hmrc or their acountant. I use btc and can probably answer your questions if you fire away with any specific questions you may have.

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Replying to rmillaree:
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By [email protected]
14th May 2024 16:35

If I link 2 sets of accounts - the first 12 month 'as normal' year and then the transitional period, I then have 2 self employment pages - which is fine but then when calculating the tax it appears to want to tax both accounting periods plus 1/5th of the spreading of transitional profits. I've tried playing around with the boxes and still can't seem to make this correct

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Replying to [email protected]:
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By rmillaree
14th May 2024 17:08

oh - i didnt know about the 18 month glitch

btc are normally on the ball ref updates unless hmrc are being sketchy - note iris are awaiting hmrc so it might be delay in hmrc updating guidance

personally if i needed to submit i would perhaps be tempted to change start date so that period appears to be less than 18 months - i think adjusts are all manually entered - so as long as it doesnt fail the checks (which it might do) that would work

then with aattched sheet note glitch and advise correct dates - include same info in additonal info

ref the two page option - i have botch fix that works for m

my botch fix is to do 12 month period of acounts say 01/05/2022-30/04/2023 - use full basis period and enter profits for the 12 month period here.

total profit pull sthrough as 12 months

note basis period can be full peirod say 01/05/2022-30/04/2023

on second self employment acounting peirod would be 01/05/2023-05/04/2024
profit box 64 is transitional profit
put this amount in box 68 as negative total

so box 73 is zero

then manually enter in box 73.1 profit for tp again
overlap profit bf and used would go in 69a and 73.2

and the amount of tp being taxed goes in box 73.3

this let me generate calcs that work without errors - although i wouldnt presume some periods/profit splits may not arrive at an error

being honest i prefer the fisrt fix with the start date being wrong only (if that works) the two page solution preusmbaly involves all income and expenses being done pro rata

i wouldnt over worry if it works but best bet is to wait for btc to get up to speed

btc need to admit its between them and hmrc though here and that may take a bit of convincing but shouldnt be too hard as the issues must be known about - i think this issue was flagged on acounting web article recently not sure if that article has anything to add ?

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Replying to [email protected]:
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By rmillaree
14th May 2024 17:08

oh - i didnt know about the 18 month glitch

btc are normally on the ball ref updates unless hmrc are being sketchy - note iris are awaiting hmrc so it might be delay in hmrc updating guidance

personally if i needed to submit i would perhaps be tempted to change start date so that period appears to be less than 18 months - i think adjusts are all manually entered - so as long as it doesnt fail the checks (which it might do) that would work

then with aattched sheet note glitch and advise correct dates - include same info in additonal info

ref the two page option - i have botch fix that works for m

my botch fix is to do 12 month period of acounts say 01/05/2022-30/04/2023 - use full basis period and enter profits for the 12 month period here.

total profit pull sthrough as 12 months

note basis period can be full peirod say 01/05/2022-30/04/2023

on second self employment acounting peirod would be 01/05/2023-05/04/2024
profit box 64 is transitional profit
put this amount in box 68 as negative total

so box 73 is zero

then manually enter in box 73.1 profit for tp again
overlap profit bf and used would go in 69a and 73.2

and the amount of tp being taxed goes in box 73.3

this let me generate calcs that work without errors - although i wouldnt presume some periods/profit splits may not arrive at an error

being honest i prefer the fisrt fix with the start date being wrong only (if that works) the two page solution preusmbaly involves all income and expenses being done pro rata

i wouldnt over worry if it works but best bet is to wait for btc to get up to speed

btc need to admit its between them and hmrc though here and that may take a bit of convincing but shouldnt be too hard as the issues must be known about - i think this issue was flagged on acounting web article recently not sure if that article has anything to add ?

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Replying to rmillaree:
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By [email protected]
15th May 2024 08:58

Thank you for this, I hadn't thought about putting a negative figure in box 68 but it works, so I am going to go with this for the time being

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Replying to [email protected]:
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By rmillaree
15th May 2024 09:55

box 68 is the actual correct box to use to remove the transitional period profits too - ie box 64 should be whole accounting period profits - box 68 removes transitioanl period - so you have the £12 month period profit in box 73. you then update 73.1 to 73.3 as approrpto ensure the transitional period amount to be included this year is brought in. if your acounting peirod is less than 18 months it thankfully works as it should do using one set of se pages.

I have to preume sooner or later btc wil update to remove the 18 month restriction - they will only be able to do that when they get gthne ok from hmrc though - so not sure at present if its their delay or hmrc's ability to confirm what to do? cue an update tomorrow morning once you have submitted return today :)

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Replying to rmillaree:
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By [email protected]
15th May 2024 10:06

BTC did update me yesterday to confirm that they are relaxing the rules on the 18 month period and will be able to do longer.
They are expecting the update to be out later next week.
I won't be submitting to HMRC just yet as need to get clients approval etc and that won't be today.
Will update once done.

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By claudialowe
14th May 2024 16:23

On the full self employment pages, it does not allow a period greater than 18 months.

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By claudialowe
15th May 2024 13:07

BTC have now been able to update their software to cope with a single long period of accounts. There are however still problems with some of the boxes - all of HMRC's making. You couldn't make it up - what a total horlicks :-(

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Replying to claudialowe:
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By rmillaree
15th May 2024 13:16

what are the unresolved issues with regard to the boxes if you dont mind me asking.

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By claudialowe
15th May 2024 13:22

I *think* 64, 65, 72, 73, 73.1 and 74

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By Rozzi Rainbow
05th Jun 2024 12:41

Has anyone got the update to work to allow a long set of accounts? Ours (BTC) says it is up to date but I'm still getting the error message that the accounting period can't be longer than 18 months.

In my case it shouldn't be a big issue as it's only turnover and trading allowance, so I'm just going to split the turnover into two sets of accounts and see what happens ...

I'm just thankful this is a client who has always been with us, and so we have the overlap relief on file. I haven't had any joy in getting any figures from HMRC for other clients yet.

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Replying to Rozzi Rainbow:
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By rmillaree
05th Jun 2024 13:06

i did the btc update and entered an accounting period over 18 months and did not get any error message now - pretty sure that was one prepped before update too.

2 suggestions

1 - have you had the most recent update from btc that is probably later than the one that shows up on "check for updates screen" - btc sent me link on 22nd May for the latest version - 17.2.04 - here is link i was sent

BTCSoftware 2024 (v17.2.04)
https://admin.btcsoftware.co.uk/download/BTCSolutionCentreInstaller.exe

2 are you using full se pages rather than short

3 perhaps generate new test return if you have issues with one that was started before update

presuming btc have formally said it works now (cant remember where that came from ?) - btc support should be able to fix if you cant

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Replying to rmillaree:
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By Rozzi Rainbow
06th Jun 2024 09:26

Thank you rmillaree and Matrix - I see we are still on v17.2.03 so I will update to .04

We were never sent any update links, normally there are just there when we log in and it says there are updates available. I even checked yesterday before I posted and it said "software is up to date" or WTTE.

I'm glad we can all chat here to help each other figure all this out! And this is only the first BPR return I've tried ...

Yes, I am using full SE pages, thank you.

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Replying to Rozzi Rainbow:
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By rmillaree
06th Jun 2024 10:15

i think btc often have "soft updates" - this sort of makes sense as you then only have limited number of people proof testing - if something ever goes wrong you dont want to find out your entire user base has downloaded the program - particualrly with btc once one person updates then normally everyone else can be forced to if its alsoa database update.

This being the case if you are ever awaiting an update contact support and request they email you as soon as update is ready to download - you might also check the download link periodically while you are waiting if you are super keen to update

this update also fixes the other glitch where random r&d supplements were being prepped on short period ct600's

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Replying to Rozzi Rainbow:
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By Matrix
05th Jun 2024 13:25

Try the webchat. I got all the missing ones in one go and saved the chat to the client files.

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