PTP Autumn 2020 Service Pack Release

Overview

Our PTP Suite Autumn release v20.3 service pack brings solutions to the following issues reported by customers:


PTP Accounts Production (20.3.4.1)

Audit Report (Charities)

As part of the FRC 2020 Bulletin “Conclusions relating to going concern” paragraph the standard texted has been updated.

ISA (UK) 570 (Revised September 2019) – Early Adoption, this data screen has been removed for periods on or after 15th December 2019 as this is mandatory after this date.

Average Number of Employees – iXBRL validation

Limited Companies - following Companies House introducing the requirement to electronically validate the average number of employees within accounts submissions this release includes a solution to prevent iXBRL tags being inadvertently removed if the additional replacement note that has been selected in the data screens.

Charities – In a similar vein, this release includes the relevant iXBRL tags and validation to ensure charity accounts can be submitted without issue.

FRS101 and FRS 102 Reduced Disclosure Exemption Update

As part of the Reduced disclosure Framework 2019/20 cycle we have updated the FRS101 and FRS 102 Data Screens to reflect changes in legislation.

Pensions Scheme Accounts – Report of Auditors, Going Concern Data Screens

When preparing Pension Scheme Accounts, the data screens for Report of the Auditors, going concern were incorrectly duplicated, this has now been resolved.

Xero Integration

When using 2 factor authentication the screen became unresponsive, this has now been resolved.
When importing from Xero the trial balance returned the latest period/year rather than the one requested, this has now been resolved.


PTP Tax Platform (20.3145-0)

Where the SA102 employment supplement had been completed and associated Foreign Tax Credit Relief had been claimed on page F 6 of the SA106 Foreign supplement, then an attempt to claim to reduce the payments on account on the Tax Calculation Summary supplement was not correctly reflected and PoAs were reduced to nil.

General

In the rare situation where it may be necessary to reset or update the Government Gateway password (part of the FBI credentials in PTP) then it was possible to receive a 1046 error during return submissions due to previously unsupported characters.
We have also taken this opportunity to future-proof this area of the product to cater for further password hardening implemented by HMRC. However, please note that PTP does not fully support the apostrophe as a valid password character currently, this issue will be fixed in the next release.
Further performance enhancements have also been implemented in this release.

Note: HMRC have recently issued an updated 2019/20 online filing Exclusion list for individuals. The document includes two new exclusions - ID122 and ID123. Due to the timing of its publication, it has not been possible to cater for these new exclusions in this release.
Details of the exclusions are set out below. If you think any of your clients may be affected by either of these then you should submit a paper return along with a reasonable excuse quoting the relevant exclusion ID.

ID122 - Taxable redundancy lump sum payments above the exemption and dividend income above the dividend allowance
Where an individual has received a taxable redundancy lump sum above the £30k exemption, and who also has taxable dividends above the dividend allowance, they will not have their allowances allocated in the most beneficial way.
As the lump sum must be taxed as the top slice of their income, they would benefit from allowances being allocated against it, thereby reducing their tax due at the highest rate but the HMRC calculation does not deal with this correctly.

ID123 - Non-UK residents with Gift Aid donations and who are in receipt of UK Dividends
An individual will receive a tax charge, under s424 ITA 2007, when the total amount of tax treated as deducted from their Gift Aid donations is greater than the amount of income tax they are charged for that year.
The income tax charge largely follows s23 ITA 2007 and then in the case of a non-UK resident individual in receipt of UK dividends, deducts tax treated as paid under s399(2) ITTOIA 2005. Currently for non-UK residents the HMRC calculation is not using the s23 calculation as the starting point for this but rather the non-resident s811 calculation, and it then goes on to omit the application of s424(5) which is the deduction of tax treated as paid under s399(2) ITTOIA 2005.