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  1. The current 'To Sign' list is a combination of tax returns that might be out for signature with the client, or ready for the tax agent to sign. At the moment there is no way for our tax agents to tell which tax returns are ready for them to sign.

    66 votes

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     ·  15 comments  ·  Xero Tax  ·  Admin →
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  2. Currently, only some distribution amounts flow automatically from a Trust tax return to the Individual and Company beneficiary returns, and others have to be manually entered. There is also no clear area to enter these items into the individual and company returns.
    This leaves room for error and causes efficiency and quality issues.
    Our previous system handled this very well. It had a specific schedule for this type of distribution income.

    All distributed amounts, including capital gains and foreign income should be auto transferred to the correct labels into the beneficiary tax returns.

    34 votes

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    1 comment  ·  Xero Tax  ·  Admin →
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    Hi team, as Hannah mentioned Capital Gains Tax (CGT) portion of this idea was delivered end of last year. So for 2023 tax forms - CGT events from a Trust Tax Return will distribute into an Individual Tax Return. Read our previous update for more of the detail on this. 

    In relation to the idea for foreign income to flow through to the Individual Tax Return - this is something our team are working on at present. We've slightly updated the title of this idea now for foreign income and will return to share when there's progress on this. 

  3. This is not a simple feature request. This is a blatant fault with how Xero Tax handles asset figures.

    In this particular case we have two accounts in the book-keeping records for CIS tax, because we wish to track CIS deducted by contracted on sales and CIS deducted from subcontractors separately. Transfers are made between the accounts as appropriate when liabilities are reported for payment to HMRC.

    At the year end, we want to show this as a single balance. As the net result was an asset at the year end, we tagged both to an appropriate asset type. Instead…

    34 votes

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    7 comments  ·  Xero Tax  ·  Admin →
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    Appreciate your input here, everyone. Our team is aware of the challenges our partners are facing around the auto-reversal of negative balance. It’s on their roadmap to investigate and provide a better user experience.

    For the time being, I’ll move this idea into ‘Under review’ status. And when there's movement, we'll make sure to come back here and let you all know.

  4. We need a Trust Estimate to be included in Trust tax returns for ALL types of trusts. Xero recently added a trust estimate but it is for Deceased Estates Less Than 3 years only. This is not useful. This type of trust is a very small percentage of the trusts that our firm has.
    We need the estimate to be able to calculate -
    - Deceased Estates More Than 3 Years
    - Discretionary Trusts where there are Foreign Beneficiaries
    - Discretionary Trusts where there Minor Beneficiaries
    - Discretionary Trusts where there is no beneficiary presently entitled

    26 votes

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     ·  4 comments  ·  Xero Tax  ·  Admin →
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  5. Please add the ability for Xero Tax to directly upload a list of data (Excel or CSV) for;
    1. List of Assets for capital allowances where the business does not use Fixed Assets Module
    2. List of participators loans
    3. List of projects for R&D

    7 votes

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     ·  4 comments  ·  Xero Tax  ·  Admin →
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  6. Losses carried forward have to be manually entered into XPM tax each year. It would be great if the information flowed through automatically from the tax return so that all we have to do is confirm it matches the IRD assessment. At a minimum it would be great if the losses to carry forward figure from 2023 automatically rolled forward to 2024 once it has been confirmed.

    49 votes

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    4 comments  ·  Xero Tax  ·  Admin →
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  7. We have some clients that have multiple businesses under their personal names. Can we please have individual worksheets for each business to input income and expenses which then automatically totals into the business schedule in the main form?

    At the moment in XERO tax, we need to put the grand totals into the business schedule, then split the amounts across the businesses for each expense/income line item. This is not practical as we generally receive separate figures for each business, not a grand total.

    41 votes

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     ·  5 comments  ·  Xero Tax  ·  Admin →
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  8. Allow mapping of tracking categories in Xero Tax.

    Xero Blue is better catered for tracking category use as opposed to subaccount creation, however, tracking categories from Xero Blue are unable to be mapped in Xero Tax. Therefore, manual entry is required to populate multiple schedules in Xero Tax.

    Example:
    • Client has two Rental Properties, therefore will have two Rental Schedules in the ITR
    • Income from both properties is mapped to a singular GL Account ‘Rental income’
    • The Income in Xero Blue file is segregated by tracking category option, e.g.
    o Tracking Category: Property
    o Category Options: Property…

    9 votes

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     ·  0 comments  ·  Xero Tax  ·  Admin →
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  9. A quick individual tax calculator - just requires taxable income and PAYG to be entered - and the tax, offsets and medicare is auto calculated. Tick box for resident, tax free threshold and private health.

    Handisoft has a tax calculator that does this - the estimated tax is calculated in 10 seconds. Much better and quicker than the ATO's calculators (and the ATO doesn't do current year - only prior).

    17 votes

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     ·  2 comments  ·  Xero Tax  ·  Admin →
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  10. As a UK accountancy practice based in in Northern Ireland, it would be great if our Regulatory Body, Chartered Accountants Ireland was available for us to choose as an out of the box Accountants Report. This would then allow us to use this for Company Accounts and then to use the 'default report' option for Sole Traders, who require a different type of Accountants Report.

    12 votes

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     ·  2 comments  ·  Xero Tax  ·  Admin →
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  11. We have noticed an error, where, when managed fund distributions are prefilled from the ATO, a zero is put in the Item 24 - Other Income

    This causes an error for each managed fund prefill that needs to be manually fixed by going in and deleting that entry in the schedule.

    I just recently had a client with 15+ managed fund imports (owned jointly with his wife, so same issue on her side) which meant I had to waste quite a bit of time going into each schedule, only to delete the zero at the bottom.

    If you could arrange…

    22 votes

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     ·  0 comments  ·  Xero Tax  ·  Admin →
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  12. Ability to have future tax forms generated for multiple entity types and not just individuals. This will enable practitioners to prepare tax returns for entities that have substituted accounting periods much before the due dates without having to request extensions from the tax office also will give us the ability to work out the timing differences on tax profit more accurately rather than relying on spreadsheets etc.

    183 votes

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     ·  54 comments  ·  Xero Tax  ·  Admin →
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  13. It would be useful if in the Tax Statements reporting data set, we could also see GST statement data (currently only Income Tax and SLS show) so that we can check for unpaid GST balances.

    11 votes

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     ·  3 comments  ·  Xero Tax  ·  Admin →
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  14. It would be good if Xero Tax calculated the estimated PAYG instalment payable in SMSF Tax Returns as we use this to inform our clients of what amounts they are up for in the new financial year, a very important piece of information for them to consider re timing and amount of cashflow outgoings. Xero Tax does it for individuals so not sure how difficult it would be to make it apply for all entities subject to the PAYG Instalment system.

    5 votes

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  15. Currently this is required to be added as a worksheet. We would like to have this as a standard part of the return (like individuals)

    7 votes

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     ·  0 comments  ·  Xero Tax  ·  Admin →
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  16. The ability to bulk update staff access to client tax returns in xero tax. Currently, the only way to change staff access to certain clients in the xero tax feature is to go into each client file and change it individually. A bulk update function would be more efficient and less time consuming.

    5 votes

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     ·  0 comments  ·  Xero Tax  ·  Admin →
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  17. Capital gains tax worksheet - where an capital assets is owned by more than one person say husband and wife 50:50. If the worksheet has been prepared for one taxpayer, have an option to have this copied/ transferred to the other taxpayer similar to rent schedule.

    For property generally there could be just one item but for shares there may be huge number of CGT events.

    184 votes

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     ·  18 comments  ·  Xero Tax  ·  Admin →
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  18. Under new rules in Finance Bill 2023/24 (which was given Royal Assent on 22 February 2024), R&D intensive loss making companies can claim a repayable tax credit of 14.5% where their R&D expenditure is 40% or more of their total expenditure (rather than the 10% credit that applies from 1 April 2023).

    Please can you build this functionality into Xero Tax, so that the 14.5% tax credit can be claimed for R&D intensive companies.

    See below for further details:

    https://www.gov.uk/government/publications/research-and-development-reform-additional-tax-relief-and-potential-merger/additional-tax-relief-for-research-and-development-intensive-small-and-medium-sized-enterprises

    3 votes

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    0 comments  ·  Xero Tax  ·  Admin →
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    Hi Ryan, thank you contributing to product ideas. I've moved this over to 'Working on it' as our team have been working on this and a number of key compliance updates recently. We'll let you know once it's released. 😊

  19. Whilst this currently auto calculates, there is no calculation in Xero to confirm the return has the correct amount. This has to be checked manually, which can leave room for errors and requires extra work by users. It would be more efficient if the system could check this.

    6 votes

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     ·  0 comments  ·  Xero Tax  ·  Admin →
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  20. Change/Simplify the wording of Medicare Levy item M2-A regarding number of days not liable for surcharge. The question is a double-negative and hard to comprehend sometimes.

    Suggestion: "How many days was the taxpayer covered by Private health during the year?"

    2 votes

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    1 comment  ·  Xero Tax  ·  Admin →
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