IRIS Personal Tax
HMRC-recognised personal tax accounting software enabling your journey to Making Tax Digital (MTD) from self-assessment tax returns to P11D, and now with IRIS Elements SmartTax, delivering real-time tax calculations for tax planning.
Personal Tax accounting software delivers compliance with ease, keeping your business ahead of the curve
Every practice needs to ensure that their business is compliant, this can be time consuming and complicated. Staying ahead of legislation and complex tax rules can often leave you will little time for developing more advisory services to better help your clients.
With IRIS Personal Tax, your software is updated to ensure you have the latest Making Tax Digital functionality to cater for changes to the tax scheme, allowing you to spend more time preparing your clients and your business.
To help your tax planning, our IRIS Elements SmartTax feature for real-time tax calculations will allow you to create ‘what-if’ scenarios with ease, adding value to your services and your clients.
Fully Integrated
- Reduce the need to re-key and remove the potential for error with our one stop shop Personal Tax software.
- Integration with many of IRIS’ other Accountancy services means that the data is already available and accessible.
- Integrations include: IRIS Business Tax, IRIS Trust Tax, IRIS Dividends Service, IRIS Payroll, IRIS P11D and IRIS Earnie, Kashflow, HMRC along with CSV imports for all other major 3rd party data sources.
Making Tax Digital Ready
- IRIS Personal Tax is MTD ready which means you can get ahead at your own pace.
- Moving clients from Tax Returns to MTD can be handled and easily tracked in the one product.
- Integration with IRIS OpenSpace makes communication with your clients simple and the Tax Return approval process quick and easy.
Ease and automation
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Simple data entry form, software automatically navigates the legislative complexities and calculates the client’s liability including areas such as FTCR, Top slicing, Basis period, CGT.
- Removes the need to run multiple manual calculations or use 3rdparty tools, resulting in higher efficiency and a higher degree of accuracy in calculating the client liability.
IRIS Elements SmartTax
IRIS Elements SmartTax is a tax simulator that delivers ‘real-time’ tax calculations within IRIS Personal Tax to improve efficiencies enabling true tax planning. Cloud-based innovation available today in your IRIS Personal Tax software.
- Real-time updates to your clients’ tax calculations.
- Simple ‘what if’ scenarios run instantaneously.
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Faster updates reflecting the latest HMRC updates to the tax calculation without the need to update the desktop
Why choose IRIS Personal Tax?
MTD Ready
Get ahead in MTD and start quarterly filing today with Personal Tax accounting software.
Fully Integrated
Reduce risk of error with our fully integrated suite of products to help you support your clients across their needs.
Compliance with ease
Over 40 years of building solutions that work for you and HMRC, making your compliance our primary concern.
Automation
Tax calculations that mean you don’t need multiple tools to get the job done.
- No time-consuming manual tax calculations are required as Business Tax automatically carries out all tax calculations using the data already entered.
- Effortlessly prepares the tax computations for limited companies, partnerships and sole traders.
- A 98% acceptance rate with HMRC.
- A simple approach to data entry, no pre-existing trust return knowledge is required.
- Tax return validation completed prior to submission to HMRC to reduce errors.
- Easily computes double taxation relief and retains portfolio data for assets and securities.
- Fully integrated with all IRIS Accountancy Suite, IRIS Payroll, IRIS Docs, PTP & Keytime.
- OpenSpace is a hybrid of Dropbox and DocuSign, which gives you the best of both document sharing and approval.
- IRIS Payroll for Accountants makes it easy for practitioners to use the same product to manage multiple payrolls for their clients.
- A revolutionary new dashboard improves client management, increases efficiency and saves time.
- The payroll rollback feature allows practitioners to reverse and correct an individual’s payroll.
FAQs
IRIS also assist with importing data directly from HMRC which pulls the following data:
Individual Employment information, Individual Income, Individual Benefits, Individuals Tax, Individuals marital status, Individuals NI
45 Tax Return questions answered
As we hit busy season, various questions are bound to arise about completing Tax Returns using IRIS Personal Tax. Below we give you 45 questions and answers. What…
