IRIS Keytime Accountants' Suite Summer 20.2

The Summer 2020 release of Keytime Accountants’ Suite v20.2.125 is now available.

Please note that before you can install this version, you must have installed version 20.1 or later.

To check the version, open any Keytime module, select the Help menu and select About.

If you have a version earlier than 20.1 you can download and install 20.1 from here where you will also find instructions on how to install.

Accounts Production

  • Includes changes to cater for the updated ISA (UK) 570, Going Concern, which is effective for accounting periods commencing on or after 15 December 2019.

Corporation Tax

  • Budget 2020 (March) sees an increase in the Structures and Buildings Allowance rate from 2% to 3% as well as the RDEC rate from 12% to 13% with affect from 1 April 2020.
  • The CT600 has also been updated to cater for the latest online submission rules and formats.

Personal Tax

  • Budget 2020 (March) sees a reduction in the Entrepreneur’s Relief lifetime limit from £10m to £1m effective from March 2020; an increase in the Structures and Buildings Allowance rate from 2% to 3% with affect from 6 April 2020.
  • Updated to cater for the latest HMRC 2019/20 online filing Specials and Exclusions.
  • Includes the latest dividend database updates.

Issues resolved in the Summer release

This release also provides you with solutions to several issues reported since the last release.

Accounts Production

When attempting to submit s444 Accounts (Audited) to Companies House it would return Error 9999.

Corporation Tax

When attempting to file a CT600 online where there are capital losses brought forward and utilised (CT600 box 215) a validation error would be triggered referencing CT600 box 235.

Personal Tax

When attempting to override the calculated Class 2 NIC value, the figure was not being saved.

Where a client reaches state pension age during the tax year the Class 4 NIC calculation was being suppressed incorrectly.

Where Top Slicing Relief is due the Top Slicing Relief Calculation report was appearing blank.