PTP Spring 2020 Release v20.1.403


Our PTP Suite Spring service pack release v20.1.403 brings solutions to the following issues reported by customers:

PTP Accounts Production

For Accounts Production 2 issues have been resolved prior to this service pack that were caused by the main Spring release.

Corporate Governance reporting headings appearing in the Directors Report for accounting periods commencing before 1st January 2019
When running a large company LTD set of accounts under FRS 102, within the report of the directors there are 3 headings with no narrative. These are Engagement with employees, Engagement with suppliers, customers and others and Statement of corporate governance arrangements. These are required for accounting periods commencing 1st January 2019 but are currently appearing in error for accounting periods commencing prior to that date. A fix was deployed on 20th April 2020.

FRS 105 – Directors Report Exception
When producing an FRS 105 iXBRL report an exception is being given in error requesting a signature on the Directors Report. A fix was deployed on 15th April 2020.

This service pack has concentrated on resolving several new issues recently identified:

  • IXBRL Tag error when average number of employees is nil
  • IAS Group Accounts – Loans and other financial assets note duplicating
  • FRS102 / 101 – Balance Sheet – Debtors more than 1 year appearing in Fixed Assets
  • FRS102 s1a (Guernsey Accounts) – Balance Sheet wording now include reference to small companies’ regime

PTP Tax Platform

  • Class 2 NIC calculation was incorrectly based on 52 weeks in tax year 2019/20 and calculating £156 due. This has now been resolved and now calculates off 53 weeks giving a total of £159 for the year
  • A manually entered dividend value in box 4 on page 3 of the tax return was not being retained. The dividend entry was present in the backing schedule, but the value was missing
  • The figure in box 22 in the Trusts pages was being doubled in the tax calculation
  • Error 438 was being returned when attempting to retrieve data from HMRC where the client had marriage allowance
  • The description ‘Close Company’ type in the dividends screen at box 4 on page 3 of the tax return has been changed to ‘Close company loans w/o or released’
  • Errors 4065 and 4085 were being returned when attempting to submit to HMRC. The issue was being caused by additional spaces in the signing area of the tax return. The issue has been fixed, however, having applied this update, if you previously had any clients’ returns in any pre-submission FBI state, then you will need to remove the FBI status and reprocess the return for submission to prevent further rejection notices.
  • There was an error with the SA100 tax calculation where an individual with total income exceeding £150,000 and gross pension deductions that reduced the income sufficiently to take the taxpayer below the additional higher rate threshold and restore a reduced personal allowance. In some circumstances the income taxed at the higher rate (40%) may have been overstated.

PTP Corporation Tax

  • When entering a composite asset in capital allowances, Add, Update and Delete Asset buttons were being hidden.