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  1. Compare actual expense details to TAPAs and be able to report on this

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    5 comments  ·  | CCH Central Suite | » CCH Personal Tax  ·  Admin →
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    Under review  ·  Dean Shepherd responded

    Hi Clare

    If we built in some business rules you could probably do that in Accounts Production but that seems a bit overkill for what is likely to be a very simple case.

    Are you likely to be providing this type of client with a P&L? Or is it just a matter of putting figures into the tax return only?

    Kind regards,

    Dean

    Dean Shepherd
    Senior Product Manager
    Wolters Kluwer

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    Clare Slattery commented  · 

    Hi Dean

    I've e-mailed you with numbers but around half of our rental businesses and about 20% of our Business Tax clients could use the relief.

    Thanks

    Clare

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    Clare Slattery commented  · 

    Hi Dean

    These are typically going to be be rental businesses where we perhaps usually only claim perhaps insurance and gas checks but which do, occasionally, have large repair claims, often between tenants. We only tend to prepare P&Ls for rental clients where they have multiple properties and are not likely to fall within these rules.

    We also have quite a few small businesses which again, because standard expenses would be travel and accountancy, we wouldn't create a P&L; this is easily done but does add in a layer of further work!

    Thanks

    Clare

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    Clare Slattery commented  · 

    Currently, if you have both the actual expenses (for initial comparison) and the claim for TAPAs on Personal Tax, the computation will take account of both sets of expenses, thus artificially reducing income.
    Could we please have an over-ride or at least a warning as this is currently not picked up until the return is validated which is often too late!

    Clare Slattery shared this idea  ·