IRIS Keytime Important Known Issues
It is important to us that we resolve any problems that are found in the Keytime Accountants’ Suite.
If your problem is listed below, we are working hard to resolve these as quickly as possible.
Issues that have been fixed or are due to be fixed in the next release, are identified as such.
The following are known issues that are affecting the IRIS Keytime Accountants’ Suite:
Accounts Production
Issues resolved in the Spring 2024 release (v24.1.178)
Validation error occurs when Restricted and Unrestricted funds completed as they are incorrectly being tagged with the same tag
When the purpose of funds is completed for multiple funds which appears in the movement of funds note, a validation error was being created when running the IXBRL accounts for a charity preventing the user from filing accounts. The path to complete the purpose of funds is Option | Funds | Edit | Purpose of Funds
Personal Tax
Issues resolved in the Summer 2024 release (v24.2.86)
Class 2 NIC calculation is incorrectly using 53 weeks for 2024 return
The Class 2 NIC calculation was incorrectly using 53 weeks instead of 52 weeks for 2024 return.
Overlap relief set off against other income for 2023-24 is not calculated properly when the amount in ‘Overlap relief this year’ has been changed
The unused overlap relief set off against other income for 2023-24 (Box 66) of the Partnership full pages was not automatically being populated. The value of this field is calculated based on the ‘Overlap relief this year’ + ‘Overlap relief brought forward’ – box 65. Box 66 value is now being updated when the data in ‘Overlap relief this year’ has changed.
Issues resolved in the Spring 2024 release (v24.1.178)
Incorrect values appear on the computation when completing a UK property disposal return
When running the SA302 for a Individual tax return, incorrect values were appearing in the computation when populating Capital gains Box 9 on Page 1.
Tax already paid not shown on the SA302 where a loss arises from the sale of unlisted shares
When the user added a disposal for unlisted shares and a loss is being depicted from the sale of shares on the CGT Page 2-Box 35. This in effect was ignoring the value in CGT Page1-Box 10 for the calculation of Tax already paid in the SA302 and was not being shown.
Corporation Tax
Outstanding issues
Incorrect pooling and balancing charge not showing for Zero Emission Cars & Goods Vehicles
When the user has disposed of a Zero emission car the system is incorrectly treating this as a pooled asset as opposed to a main pool asset.
In addition, although the disposal value is appearing, the balancing charge is not shown for this asset on both the CT600-Box 710 and the computation.
Workaround
Delete the Zero Emission car asset type and add a new Main Pool asset with the same title and details. You will also need to re-add the previously deleted Zero Emission Car type asset with the necessary details whilst retaining the newly added Main Pool one.
Then the CT600 can be submitted attaching the previously saved iXBRL tax comp.
For further guidance, please contact Support.
This issue is due to be resolved in the Autumn 2024 release.
Issues resolved in the Summer 2024 release (v24.2.86)
Corporation Tax-Incorrect Marginal relief being calculated
It had been reported that the marginal relief was incorrectly being calculated. This issue has now been resolved.
