Centralised database reduces workload
Being able to
exploit information held on the IRIS database increases accuracy
and releases staff
for more profitable activities. For example:
wholly and partially disallowed accounts are flagged within the
database and automatically treated correctly; individual and pooled
asset details from the Fixed Asset Register provide the basis for
the capital and building allowances schedules; and individual
partners' share of the profit is calculated, and the figures
automatically put into their Personal Tax records.
Comprehensive reporting
IRIS Business Tax
generates a clearly presented corporation tax computation for up to
four corporation tax accounting periods which includes
apportionment over fiscal years, marginal rate relief,
non-corporate distributions rate calculations and losses carried
forward/back. The CT600 (2006) short or full facsimile return is
printed as appropriate, depending on the data entered for the
client. All supplementary pages can be completed and printed.
Deferred Tax calculations can also be produced, including the
automatic calculation of accelerated capital allowances, using the
net book value of the assets in Accounts Production and the written
down value of assets in Business Tax.
IRIS Business Tax produces the partnership tax
calculation and prints the facsimile self-assessment return.
Facsimile forms printed by IRIS are fully HMRC approved. For sole
trades, the income tax computation is printed and all necessary
data, income and expenses, disallowed expenses, tax adjustments,
capital allowances and building allowances are automatically placed
in the Personal Tax record for the individual trader in readiness
for the self-employment schedule.
FBI included as standard
While our competitors often make an
additional
charge, IRIS Business Tax includes Filing By
Internet (FBI) as a standard feature for submitting both
partnership and corporation tax returns to HMRC.
Like all IRIS tax products, IRIS Business Tax
now handles multiple agents from a single practice. Major
government initiatives are set to bring radical changes to
electronic filing. Whatever developments are announced in the
months ahead, with IRIS you have a partner with a strong track
record of being at the forefront in this area.
