Frequently Asked Questions

Personal Tax

Frequently Asked Questions for Personal Tax

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Can I print an SA302 from IRIS Personal Tax

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HMRC have approved that the IRIS tax computations can now be used in replacement of an SA302. The clients name and UTR must be visible on the tax computation. To print a Tax Computation, select Reports | Tax Computation.

If the Tax year Overview is also required, you will need to log onto the HMRC portal to access this document. To obtain a Tax Year Overview if needed, please follow the steps below:

How to print a Tax Year Overview from the HMRC online account

1. Choose the relevant client (if you are a registered customer representative)
2. Follow the link ‘Self Assessment Overview’ (if going through ‘Your Tax Account’)
3. Follow the link ‘view account’
4. Follow the link ‘tax years’
5. Choose the year from the drop down menu and click the ‘Go’ button
6. Follow the link ‘print your Tax Year Overview’.

Please note: You must wait 72 hours after fully submitting your return until you can print your documents.

How do I carry back trading losses?

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Self-Employment

a) Trade, Profession or Vocation | Sole Trade or Partnership | Load the current accounting period | Adjustments, Losses, Overlap & Tax tab – enter the loss into the Carry Back field
b) Go to the Reliefs menu | Miscellaneous | Tax Calculation | Tax Code and Overpaid, Underpaid and Repaid Tax – enter the clients tax savings into Tax Underpaid or Overpaid from earlier years
c) Go to Additional Information | choose SA110 and make the supporting notes here

Partnership
a) Trade, Profession or Vocation | Sole Trade or Partnership | Load the current accounting period | On the Trading tab – enter the loss into the Carry Back field
b) Go to the Reliefs menu | Miscellaneous | Tax Calculation | Tax Code and Overpaid, Underpaid and Repaid Tax – enter the clients tax savings into Tax Underpaid or Overpaid from earlier years
c) Go to Additional Information | choose SA110 and make the supporting notes here

Why can I not enter tax deducted on Share Options anymore?

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HMRC have removed box 2 from page AI 2, therefore tax paid cannot be entered anymore. If tax has been deducted from a share option, check with the Inspector whether an entry may be made in box 1.11 on the employment pages of the return. The tax paid may have to be treated as a credit on the client's account.

How do I enter a negligible value claim?

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Go to the Income Menu | choose Dividends | Capital Assets | Choose Other Capital Gains and click Add | enter the details here and ensure you put a negative figure into the Net Gain/(Loss) field. This will create the loss and populate box 6 on page CG 1.

If the loss should be offset against the clients other income, go back to the Capital Assets main window | click Edit | Losses & Other Information | enter the loss to be offset into the field ‘Losses used against this years income’.

How do I enter payments on account for a new client?

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Click into Administration and choose Client Account
Click Insert, select OAC 1 and select the current tax year Enter the amount that was payable

NB: you may need to tick the Cancel Interest tick box

Click into Administration and choose Client Account
Click Insert, select OAC 2 and select the current tax year
Enter the amount that was payable

NB: you may need to tick the Cancel Interest tick box

Where do I enter student loan deductions made through PAYE?

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Go to Employment and select Expenses
Choose Expense type 10 and enter the amount deducted

How do I deactivate clients from Personal Tax?

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Firstly ensure you are viewing the client you wish to deactivate | then click Client and Status – say NO to the question ‘Is this person currently a client’

When you now go to view the client browser screen you will notice this client is no longer appearing within the list, as the view is set to ‘Currently registered in Personal Tax’ by default.

Beside ‘Show clients registered in’, change the dropdown option to ‘Whole Practice’ and you will be able to select the client you previously deactivated and re-register them back into Personal Tax so historical data can be accessed again if ever needed.

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