30 results found
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Xero Tax - Share Capital note
Share capital note - in many accounts production packages there is a share capital note. It would be good to have this available in Xero Tax. If not, please could you add the functionality to add a custom note, which would enable us to add a narrative and a simple table.
2 votesHi there, I'm pleased to let you know that a share capital note is now available! Thanks for sharing and supporting this idea 🙌
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Xero Tax - Submit Tax Returns on cash basis
Functionality to be able to submit Sole Trader/Freelancers/Counsellors tax returns on cash basis.
2 votesIn order to file a self assessment tax return for self employment income on a cash basis this needs to be selected from within the self-employment schedule.
Below the accounting period start & end dates there is a Yes/No toggle to switch over to 'Yes' if cash basis is being used in the accounting period 🙂
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Xero Tax (UK) | Create accounts for company limited by guarantee
Create accounts for company limited by guarantee
1 voteHi Mike 👋, this is already possible within Xero Tax for UK users.
The wording of the accounts will automatically be adjusted when creating a set of accounts for a company limited by guarantee. These changes are driven by the Company Registration Number saved within the Organisation Settings in Xero.
For FRS 1021a you should see the statutory information note now references the company is limited by guarantee and for FRS 105 the balance sheet statements will be updated. If this isn't in line with what you're experiencing please raise a case with our support team.
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Personal tax attachment
How do I attach a calculation (CGT) to a personal tax return? It's currently not possible to attach and save personal tax documents to Personal tax that will not be submitted to HMRC.
I’ve included a link to Xero Product Ideas where you can view and support current ideas or create a new one to share your thoughts.
1 voteHi, thanks for raising this idea - I'll switch it across to delivered as this is something that can be achieved in Xero Tax.
To include include your own calculations for CGT in the Personal Tax return. You will first need to add the Capital Gains schedule and check the box to indicate that you are including your own calculations.
You can then head to the attachments page and upload your calculations.
The Generate a personal tax return support article has information on how schedules can be added to the personal tax return.
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NZ Tax - Prevent return finalisation when PIE exceeds what's claimable
In a non resident return it would be good if Xero could prevent finalisation of the return where the PIE tax credit is in excess of what is claimable under the Tax on Taxable Income/Taxable Income x PIE Income formula. Thanks
1 voteHey Claire, rounding back to your idea here I wanted to confirm that when running an IR3NR return there is already a warning that'll appear if PIE tax deducted exceeds tax on taxable income.
This will prevent the return being filed in Xero until the figures have been amended.
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NZ Tax - Tax return audit check that key points 34-38 have been completed
Tax return audit check should include whether new keypoints 34-38 have been completed
1 voteThanks for the idea here, Mike. Our team have made some recent updates and Xero Tax (NZ) will now provide a warning banner with suggestions to show where your tax return may require a review.
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AU Tax | Trust & Partnerships Report - Ability to report on main business activity industry code and description
Tax Return Report - Professional Services Firms List
Can you to generate a report for trusts and partnerships to show me the Main business activity industry code and description. You only have the option to do it for indivduals and companies.
1 voteThanks for your idea here, Caroline. Our team have made recent updates and you'll now find Industry code and Industry description are now both reportable fields for the Trust and Partnership tax returns, with Xero Tax 🙂- See more on this in our Xero Central article.
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Xero Tax(UK) - Increase the 100 characters limit for text in 'Reason for Reducing Payments on Account'
Currently the 'Reason for reducing payments on account' on the 'Payments on Account Screen' of personal tax is limted to 100 characters. It's not enough!
1 voteThanks again, John - Happy to confirm that this is now in place and you'll find you shouldn't be restricted to 100 characters any longer. We've lifted it up to the 0000's 😁
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Personal Tax (UK) | Add Box 53 CGT UK ITR
It's not currently possible to tick box 53 of the UK ITR CGT pages to state that the return contains a valuation - can this be added. Otherwise the software is not useable when you have a CGT disposal with a valuation or estimate
1 voteHey Wendy, 👋 thanks for raising this idea. I'm popping in to switch it across to delivered! We recently rolled out the ability to tick box 53 for NRCGT, so you will be able to do this going forward 🎉
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Xero Tax - Suspend Activity Statements
The new Suspend Tax Returns feature for Xero Tax is great! However could this feature please be applied to activity statements as well?
1 voteHello everyone, we want to let you know that this feature is already active in XPM.
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