What’s New for 2021/22?
- Beneficial Loan Calculator – Averaging Method
- Directors Loan Accounts Flowcharts – s455 / P11d – To help identify when a s455 liability might arise and when P11d’s may be needed. Also additional notes for the client if required.
- Employer’s Allowance Eligibility Calculator / R&D PAYE Tax Cap – To confirm eligibility to claim Employer’s Allowance based on Class 1 contributions in the previous tax year and a PAYE summary to calculate the potential R&D Tax Credits Cap based on PAYE from 6 April 2021
- Property Benefit in Kind Calculator – To calculate BIK on property provided by a company to employees.
- VAT Turnover Reconciliation – A template to standardise the reconciliation of the BOX 6 figures on the VAT return to the turnover as shown in the accounts.
All of the models have been updated as necessary for the changes required as a result of new tax and NI rates etc. Others have had enhanced reporting or additional functionality added.
Should I Incorporate? and the Corporation Tax Calculator have been adapted to include the effect of the proposed corporation tax rates from 2023 – marginal reliefs, associated companies etc.
Why use Tax Tips & Tools?
It’s clear that tax is becoming ever more complex with the different sources of income and various tax rates and exemptions. Client tax calculations need to be done with up to date tax tools or software, otherwise practitioners are liable to making significant errors. The use of the calculators can, in a few seconds, provide a much more accurate picture in a presentable and professional format for the client.
Many of the tools provide detailed calculations allowing for “what if” scenarios for the clients and include case studies for tax education.
Tax Tips & Tools is split into the following sections:
- Inheritance Tax and Trust Tools
- Income Tax and Corporation Tax Tools
- Payroll and Construction Industry Scheme Tools
- NI and Tax Credits Tools
- Capital Gains Tax Tools
- Value Added Tax Tools
- Administrative and Other Tools
- Mind Maps
Tax Tips & Tools is now in its 21st year of production. So why not give it a try? We offer a full money back guarantee if you are not completely satisfied.
To allow for quick and easy access, Tax Tips & Tools is delivered as a downloadable file sent via email upon successful completion of your purchase. Once purchased, you can also access a copy in ‘My Purchases’ by logging into My2020 Dashboard.
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