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Is there company tax return functionality in Xero?

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Probably being thick, but I use taxfiler for all limited company accounts and tax returns. For any of those clients using Xero I thought I could link their Xero TB into Taxfiler but in the example client I am using there is no corporation tax in Xero and no obvious way of making adjustments in Taxfiler once the Xero TB is loaded. I was hoping Xero may have a CT computation but if it does it is well buried.

Anyone tried this and, if so, can you offer some advice?

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By Tim Vane
22nd May 2019 14:43

If you are using QBO then Taxfiler will create a tax journal in QBO automatically but it won't do that for Xero so you have to manually enter the journal in Xero. It only takes a few seconds though so no big deal.

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By bettybobbymeggie
22nd May 2019 15:06

Thanks - I was hoping for something better from Taxfiler - you can't even type over the TB amounts once imported which seems a bit restrictive.

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By bettybobbymeggie
22nd May 2019 16:06

Just heard back from Taxfiler support - you can unlink the Xero mappings (click on any value in the TB then => "Remove imported balances" then => "Unlink"). This allows you to edit the TB.

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By johnt27
22nd May 2019 14:54

Xero Tax (formerly Instafile) is in beta testing with a bunch of Xero partners at present. If you're a partner I'm not sure how you've missed the various articles as they've been pushing it since Xerocon last year.

It will currently prepare and file FRS 105 accounts and CT. FRS 102 1A is not far off I'm told.

Process is slick and will post tax, once calculated, back to Xero TB. Xero Tax is free and available for partners only.

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By bettybobbymeggie
22nd May 2019 15:08

No not a partner at present but something I should consider, thanks.

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By pauljohnston
31st May 2019 10:49

I am aware of Xero tax. You have to pay for clients that are not using Xero (fair enough). What ever system one decides to use, only use one otherwise there is a good chance that one case may slip between the two or more offerings.

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