Trade/Profession (SA800)

This screen is accessed via the data input screen within the tax return.

Trade/profession

  • ‘Name of business’
  • ‘Description of business’
  • ‘Address’
  • ‘Has the name or address changed since last Tax Return?’
  • ‘Date of commencement (if after 5 April [year]’
  • ‘Date ceased (if before 6 April [year])’
  • ‘Business registered for VAT?’

Capital allowances

  • ‘Capital allowances at 18%’, ‘Balancing charges’
  • ‘Capital allowances at 8%’, ‘Balancing charges’
  • ‘100% and other enhanced capital allowances’, Balancing charges’
  • ‘Total capital allowances’, ‘Total balancing charges’
  • ‘Includes enhanced allowances for environmental expenditure’

Accounting period

  • ‘Start of period’
  • ‘End of period’
  • ‘Account details are not required’
  • ‘Accounts do not cover period from last accounting date’
  • ‘Change of accounting date’
  • ‘Second or further change’
  • ‘Is the cash basis being used?’
  • ‘Do figures include VAT’ Tick the box if VAT is included in the figures, this tick box is only available where you have ticked ‘Business registered for VAT?’ above.

Income and expenses

  • ‘Turnover’
  • ‘Cost of sales’
  • ‘Construction industry subcontractor costs’
  • ‘Other direct costs’
  • ‘Gross profit/(loss)’
  • ‘Other income / profits’
  • ‘Employee costs’
  • ‘Premises costs’
  • ‘Repairs’
  • ‘General administrative expenses’
  • ‘Motor expenses’
  • ‘Travel and subsistence’
  • ‘Advertising, promotional and entertainment’
  • ‘Legal and professional costs’
  • ‘Bad debts’
  • ‘Interest and alternative finance payments’
  • ‘Other finance charges’
  • ‘Depreciation and loss/(profit) on sale’
  • ‘Other expenses including partnership charges’
  • ‘Total expenses’
  • ‘Net profit /(loss)’

Adjustments, tax and charges

  • ‘Goods etc. taken for personal use and other adjustments’
  • ‘Total additions’
  • ‘Deductions from profit’
  • ‘Total deductions’
  • ‘Net business profit / (loss)

Basis period adjustments

  • ‘Start of basis period’, ‘ End of basis period’
  • ‘Basis period adjustment’
  • ‘Overlap profits b/fwd’
  • ‘Overlap relief used’
  • ‘Overlap profits c/fwd’
  • ‘Farm averaging adjustment’

Profit/(Loss) calculation

  • ‘Net profit for basis period’
  • ‘Allowable loss for period’
  • ‘Loss to offset against other income for year’
  • ‘Loss against earlier years’
  • ‘Losses brought forward from earlier years’
  • ‘Brought forward loss used against profits’
  • ‘Taxable profit after losses’
  • ‘Total loss to carry forward’

Other details

  • ‘Any other business income’
  • ‘Construction industry deductions from contractors’
  • ‘Tax taken off trading income’
  • ‘Profit or loss is provisional?’

Balance sheet

  • ‘Equipment, machinery and vehicle’
  • ‘Other fixed assets’
  • ‘Stock and work in progress’
  • ‘Trade debtors’
  • ‘Bank/building society balances’
  • ‘cash in hand’
  • ‘Total assets’
  • ‘Trade creditors’
  • ‘Loans & overdrafts’
  • ‘Other liabilities and accruals’
  • ‘Total liabilities’
  • ‘Net business assets’
  • ‘Balance at start of period’
  • ‘Net profit or loss’
  • ‘Capital introduced’
  • ‘Drawings’
  • ‘Balance at end of period’

Additional text note for Tax Return

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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