Online CT600 R&D Tax Credit

mini_schnauzermini_schnauzer Trusted RegularRegistered Posts: 347
Hello

Attempting to file online accounts and CT600.
Using the free HMRC online software. Entering of accounts great, no problem. But the HMRC software only allows you to complete CT600 short version - not the full one.
I am needing the full one as the Corp Tax return includes a R&D Tax Credit claim.
Called HMRC and no help at all - they only said you have to purchase software to enable the CT600 full version.
Can any one recommend software to enable me to complete this one off R&D tax claim that is in the Corp Tax?

Many thanks in advance.

Comments

  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,440
    Have not used HMRC system for CT600's so cannot comment on that front. A cheap software that would perform this would be either Tax Calc or Ftax I believe.
    Regards,

    Burg
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    Correct, you need 3rd party software.

    I don't know if taxcalc has low prices for low volumes but Ftax does. We use Ftax for everything and I would look there.
  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    Or there is always the old-fashioned paper-way!
  • mini_schnauzermini_schnauzer Trusted Regular Registered Posts: 347
    Thanks for your quick responses.

    I would love to do it the old paper way, but unfortuantely you have to do it online now - like it or not. HMRC was very unhelpful.

    I will check out FTax and TaxCalc - thanks.
  • DcollinsDcollins Well-Known Registered Posts: 179
    I've been through this recently, and spent weeks on it, with the added problem of a 30th April 2011 year-end.

    If your client has a Y/E after 31/3/11, you've very little chance of getting (affordable) software that will work (Sage and Digita have both told me that they've issued updates recently to file nil liability returns, but I've not used them, nor do I know how good their R&D calc is).

    Avoid Keytime (their R&D calc is currently under review). Another, (either Absolute or TaxCalc, I can’t remember which), allowed me to enter the R&D info on the CT600, but wouldn't include it in the computation, which was bizarre and rather unhelpful.

    Do your R&D calc manually first, and check that the software is handling it properly. If you do find software that handles the R&D calculation correctly please, please let me know.

    HMRC will accept a paper return as a last resort. I had to submit on paper, but spoke to the R&D unit (the specialist units are surprisingly helpful) first, and sent a cover letter explaining why. They have accepted it.
  • BluewednesdayBluewednesday Font Of All Knowledge Registered Posts: 1,624
    A 30th April year end? HMRC can't handle them yet can they? Might that be where some of your problems are too?

    I was under the impression that unless we absolutely had to we shouldn't file year ends after 31/03/11 online as the Revenue system can't accept it - bloomin' marvelous isn't it???
  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,440
    A 30th April year end? HMRC can't handle them yet can they? Might that be where some of your problems are too?

    I was under the impression that unless we absolutely had to we shouldn't file year ends after 31/03/11 online as the Revenue system can't accept it - bloomin' marvelous isn't it???

    Agree as hmrc have not updated to cope with the change in ct rates. Meant to be sorted by oct though!
    Regards,

    Burg
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    burg wrote: »
    Agree as hmrc have not updated to cope with the change in ct rates. Meant to be sorted by oct though!

    As I understand it, this is to do with the Finance act receiving Royal Assent, which has to happen by 5th August and until it does it's not strictly law. Apparently this is the same every year, but now everything has to be filed online, the problem has become more apparent.

    Still a farce though!
  • BluewednesdayBluewednesday Font Of All Knowledge Registered Posts: 1,624
    and what's the betting that it isn't sorted by October - luckily I have so many March year ends that it's not causing me a huge problem!!
  • mini_schnauzermini_schnauzer Trusted Regular Registered Posts: 347
    Thanks for all your posts. The year end is 31st Jan 2011.

    I have finally spoken to a very nice man at HMRC R&D Tax specialist unit, who commented that many companies seeking a R&D tax credit are unable to do this online, and have experienced the same problems as me and others looking at other forums.

    Luckily I did not purchase any software for this, as you cannot just purchase a tax computations package for full CT600 submission and attach what is calculated for the R&D (as many state you can) - you also have to purchase the accounts iXBRL software and submit all together, which makes it a lot more expensive - especially if it is for a one off claim.

    I have been advised to submit a short CT600 online via HMRC free software and then write to the R&D specialist unit to amend the return for my R&D Tax Credit Claim.

    Sorry Dcollins - no low cost software around yet to help!
  • DcollinsDcollins Well-Known Registered Posts: 179
    Isn't it fun?

    Good luck with your claim, at least the R&D units are helpful.
  • DcollinsDcollins Well-Known Registered Posts: 179
    Just had news that my R&D TC claim (submitted on paper on 5th July), is being paid today. So hang in there Mini-Schnauzer, there is light at the end of the tunnel.

    Think I'll celebrate with a cup of tea and a fig roll!!
  • BluewednesdayBluewednesday Font Of All Knowledge Registered Posts: 1,624
    Dcollins wrote: »

    Think I'll celebrate with a cup of tea and a fig roll!!

    My - don't you know how to live!! I prefer a nice shortbread myself
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