Ftax CT600 software will not allow me to enter an AIA value in both boxes 690 and 705 because in doing so Ftax duplicates the AIA deduction in the taxable profit computation. So to get to the correct taxable profit figure I can only enter the AIA value in either box 690 or box 705, but not in both .
Have other Ftax users encountered this same problem or am I not using the software correctly ??
I'm beginning to doubt my understanding that HMRC require the AIA value to be included in both boxes on the CT600. Sanity check please.
Related resources
Replies (4)
Please login or register to join the discussion.
I use Ftax for the CT600. I have only ever entered the AIA in box 690 and never had a problem. Admittedly the CT600 guide seems to suggest the AIA should be included in box 705 also, but I have never done that.
All other CAs, I enter via Ftax's CAs worksheet.
I suggest you just use box 690 for the AIA and provided you get the correct end result, don't worry further.
What you advise appears to be the only way to get Ftax to compute the correct profit value,but the entries on the face of the CT600 are incorrect and makes it look like we don't know how to complete a tax return properly which is really annoying.
I wish I had your care free attitude.
Ha! I do care; I care very much. I tend to agonise over things to the nth degree. It's just that over the years I have been using Ftax, I have discovered a few foibles but because I have never had any comeback from a submitted CT600, I have learned to agonise a little less.
If your client notices and queries the lack of an entry in the second box, they would probably have enough knowledge to be doing the return themselves.
If it still troubles you, submit a support request to Ftax. I suspect their reply might be along the above lines but at least you will have raised the issue.
L Haldane, you've come across this self same Ftax blip before now:
https://www.accountingweb.co.uk/any-answers/super-deduction-capital-allo...
I too use Ftax and populate Box 690, and simply live with the fact that Box 705 excludes that Box 690 sum from its total.
It makes no sense to yours truly that the Super Allowance posted to Box 760 under the "Qualifying Expenditure" section isn't included in the Box 705 total, whereas AIA under Box 690 is (or, for Ftax users, should be) so included.