Personal Tax- Other/Private pension incorrect/missing on Tax comp

personal-tax-other-private-pension-missing-from-tax-comp

Personal Tax- Other/Private pension incorrect/missing on Tax comp

9th August 2021

IRIS Personal Tax- Other/private pension entry is incorrect or missing from Tax comp yet it appears on the Schedules of Data report

The pension entry or tax deduction is missing or is a different value on the Tax comp. OR the other pension value is missing from Schedules of Data and Checklist. This can also be a ‘Unknown pension income/benefit’ showing on the comp/smarttax.

1.Load the Client and select the relevant year

2. Setup

3. Retrieve ‘HMRC data practice options’

4. Switch on all 5 tick boxes and OK

5. Pensions and State benefits,  Other Pensions

6. On bottom right – ‘View pension and state benefit summary‘ – this may show values from HMRC. If this button is missing, open a different income section eg Employment and then go back to pensions

7. Tick ‘Manual value’ (not HMRC value). If there is a HMRC value here then it will not show on screen or schedules and only appears here.

8. It will now appear on the Tax computation.

NOTE: When it uses the HMRC value and not manual value; it will appear on the ‘Exception report’ when you run a Tax comp etc. You can then decide whether to use your manual value on step 6.

E-checklist is not picking up any HMRC value data from prior year – For example Employment and Pension HMRC income is missing on the e-checklist. HMRC values have never been used for e-checklists as these values have been amalgamated and any clients affected would require individual values therefore ‘manual values’ will be picked when using e-checklist. If you want to run 2022 e-checklist, follow these steps:

a) Go back to 2021 and open the HMRC value. Switch to Manual values and enter the same income values.

b) Change to 2022. Edit and Bring forward. Then delete the old e-checklist.

c) Generate a new checklist and it will pick up the Manual values.