Features List v16.2.0

To see what's new in the IRIS Summer 2016 Service Pack release (v16.2.1) click here

Release Overview

The IRIS Accountancy Suite Summer 2016 release sees a wealth of new functionally, productivity enhancements and innovative compliance changes.

It continues our coverage of the latest part of the Small Business, Enterprise and Employment Act including new form CS01 - Confirmation Statement that replaces the Annual Return from 30 June 2016, the register of persons of significant control and a number of other new forms. It includes the Academies Accounts Direction 2015 to 2016 and all the latest rates and allowances for tax, such as the new rates for Capital Gains Tax. 

IRIS General

System Maintenance

Database Address Search function has been centralised with the new sub-menu "Browse Addresses" of "System" menu in System Maintenance allowing the users to browse the database of addresses to see the usage and to view if the address is on the database multiple times.

Time & Fees

The de-registration function has been updated to include the ability to submit multiple clients for de-registration. The clients can be selected directly from the client browser, by listing client identifiers or through the advanced client selection feature on the List tab. All de-registrations, both single and multiple are now logged and the log files are stored in the Data\Logs folder. After the de-registration is completed, the log with detailed information is displayed to the user.

Added value enhancements

The shared address usage check has now been added to all non-clients address changes, branches and agent address changes. If the shared address is being changed on any of these forms there will be a warning message displayed to the user notifying him that it might affect other entities linked to the same address.

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IRIS Docs

Upgrade to IRIS Docs 6.11

The latest release of IRIS Docs focuses on providing greater efficiency when managing your documents and client communication through IRIS. We have not only added support for Microsoft 2016, but also made improvements to the new ‘Notes’ display and added the highly requested Email Assistant ‘Drag and Drop’functionality, allowing users to quickly drop emails onto target areas within outlook to file and save documents against their clients.

Upgrading to IRIS Docs 6.11 is simple using our brand new self-service tool and can be carried out regardless of your existing version, with no requirement to update your existing Email Manager system for the latest functionality. If you are using OpenSpace, download the latest OpenSpace Connector to complete your digital integration experience.

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IRIS Accounts Production

New rates for Capital Gains Tax from 6th April 2016Extension of Entrepreneurs’ Relief for long term investorsIncrease in rate of tax for loans to participators (S455) from 6th April 2016Reduction in the rate of Supplementary Charge for Ring Fenced Trades for limited companies starting on and after 1st January 2016Increase in expenses reporting limit for sole traders and partnerships from 6th April 2016Reduction in rates for Corporation Tax for years up to April 2020In addition to the Budget changes the following updates have been made within the Tax Products:Dividends Database updated to include dividends paid up to 5th April 2016Retail Price Index (RPI) updatedUpdated Form 50FSClass 2 NICClass 2 National Insurance is now to be collected via the self-assessment tax return. HMRC have this value calculated on their own systems and therefore will not use any value submitted as part of a tax return from any software or paper submission, therefore instead of calculating the value, which could differ to HMRC’s and cause a rejection or recalculation to be issued we provided data entry for you to enter the value as per HMRC’s systems (just until HMRC provide the API that allows us to pull the data from them directly).  However based upon feedback from our customers we have now included the calculated value so that you are able to compare and if necessary overwrite this amount. 

Academies Accounts Direction 2015 to 2016

IRIS Accounts Production has been updated  for the Academies Accounts Direction 2015 to 2016. This will apply to periods ending 31st August 2016.

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IRIS Company Secretarial

Company Secretarial Forms

Small Business, Enterprise and Employment Act

IRIS Company Secretarial has been updated to include the the following forms:

  • CS01 - Confirmation Statement for companies which replaces the Annual Return from 30th June
  • The change of location forms for company registers and Limited Liability Partnerships
    • AD03 - Change of location of the company records to the single alternative inspection location (SAIL)
    • AD04 - Change of location of company records to the registered office
    • LL AD03 - Change of location of the records to the single alternative inspection location (SAIL) of a Limited Liability Partnership (LLP)
    • LL AD04 - Change of location of the records to the registered office of a Limited Liability Partnership (LLP)

  • The share capital forms
    • SH01 - Return of allotment of shares
    • SH02 - Notice of consolidation, sub-division, redemption of shares or re-conversion of stock into shares
    • SH06 - Notice of cancellation of shares

Companies House Online Services - Beta Service

We have also introduced additional Companies House Online Services searches under the new menu option using the Beta Service from Companies House. See more detail

IRIS Company Formations

A new Incorporation form has been issued by Companies House will take effect from on or after 30th June 2016: 

  • IN01 - Application to register a company for incorporations on or after 30th June 2016

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IRIS Tax Solutions

IRIS Business Tax, IRIS Personal Tax and IRIS Trust Tax have all been updated to cater for the latest rates and allowances from the Budget 2016 including:

  • New rates for Capital Gains Tax from 6th April 2016
  • Extension of Entrepreneurs’ Relief for long term investors
  • Increase in rate of tax for loans to participators (S455) from 6th April 2016
  • Reduction in the rate of Supplementary Charge for Ring Fenced Trades for limited companies starting on and after 1st January 2016
  • Increase in expenses reporting limit for sole traders and partnerships from 6th April 2016
  • Reduction in rates for Corporation Tax for years up to April 2020

In addition to the Budget changes the following updates have been made within the Tax Products:

  • Dividends Database updated to include dividends paid up to 5th April 2016
  • Retail Price Index (RPI) updated
  • Updated Form 50FS

Class 2 NIC

Class 2 National Insurance is now to be collected via the self-assessment tax return. HMRC have this value calculated on their own systems and therefore will not use any value submitted as part of a tax return from any software or paper submission, therefore instead of calculating the value, which could differ to HMRC’s and cause a rejection or recalculation to be issued we provided data entry for you to enter the value as per HMRC’s systems (just until HMRC provide the API that allows us to pull the data from them directly).  

However based upon feedback from our customers we have now included the calculated value so that you are able to compare and if necessary overwrite this amount. See more detail

To see the full contents of the IRIS Summer 2016 (v16.2.0) release click here

We have also simplified our release version numbers, more detail on this can be found here

To see what's new in the previous IRIS Spring 2016 (v16.1.0) release click here

Other recent changes to IRIS Accountancy Suite... 

SBEEB; The latest company admin changes

Another big change in legislation, the Small Business Enterprise and Employers Bill still being rolled out by the government. The ability to create and generate a Persons of Significant Control register - very similar to the Director’s register with the addition of the ‘nature of control’. Included is the functionality to select directors, secretaries, shareholders and anyone from the non-client list when creating a Person of Significant Control register, ensuring another smooth piece of legislation.

Expanding upon the complete client view

IRIS OpenPortal now includes a smart client search that instantly launches the Client Dashboards search results that dynamically filters as you continue typing.Also included are a number of enhancements to Client Dashboards including a new KashFlow dashboard, new IRIS OpenSpace widgets and the actionable items / clipboard for widgets.

Enhanced fixed assets

The ability to import asset data from a CSV file directly into the Register, removing a number of time consuming tasks form your workflow.With this new feature also comes the ability to export asset data into a CSV file which is a great way to share the data you currently hold with your clients for them to update.