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Sage Taxation 2021 - What's new?

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There are some great new features and developments available in the latest 2021 release of Sage Taxation. In this article you can find out more about what they are.


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Outlined below are the new features introduced in Sage Taxation 2021, version

Tax Returns

This release includes the 2020-21 Self-Assessment forms for individuals, partnerships and trusts.We've also included P11D (2021) and the latest R40 form.

Tax CalculationThe latest version of HMRC's 2020-21 tax calculations for individuals and trusts have been included.

We are continuing to work with HMRC to help ensure their tax calculations are as accurate as possible and that any cases which are calculated incorrectly are identified as Special Cases or Exclusions.

Online filing2020-21 returns for individuals, partnerships and trusts can be filed online from 6 April 2021.

The software includes HMRC online filing validations, along with the latest Special Cases and Exclusions.  

Capital gains: Disposals of Residential propertyDisposals of residential property by UK residents that have already been reported to HMRC on a Real Time Transaction Return (RTTR), also need to be included on the Self-Assessment return.

You can enter the disposal details in Capital Gains and the RTTR reference, gain or loss and tax paid in Disposals > Reliefs and other information, to complete the new boxes on the Capital Gains Tax summary supplementary pages. 

Capital Gains: Business Asset Disposal ReliefWe have reflected the change from Entrepreneurs’ Relief (ER) to Business Asset Disposal Relief (BADR).

You can now enter details to report the total ER and BADR claimed to date on the Capital Gains Tax summary supplementary pages. 

 Company CarsWe've updated the 2021-22 company car rates to allow you to estimate car and fuel benefits for verification of amounts in PAYE codes or for payroll benefits. 
COVID-19 Support payments declaration and incorrect claimsView our Sage Advice article for a detailed overview on the Coronavirus recovery plan support measures.

We have added to Tax adjustments and charges a COVID-19 page, to enable you to declare that all relevant support payments have been declared and to declare report any incorrectly claimed support scheme payments not already repaid.

We have amended Residence details, to enable you to report days spent in the UK to carry out specified COVID-19 related work.

We have also amended Self-employments and Partnerships, to enable you to report any relevant support payments. 

COVID-19 Self-employmentsWe have updated the Adjustment details tab in Computation Details to allow you to record the SEISS receipts for the tax year. 
Residency and Covid-19 related workWe have updated Residency details > Residence Status to allow you to enter days spent in the UK to carry out specified COVID-19 work.   
Remitted foreign incomeFrom 2020-21, HMRC has introduced separate reporting of remitted foreign savings and dividend income.  If you select the ‘Tax on the remittance basis’ option on the relevant data entry screens, the income will be included in the new sections on pages F 2 & F 3 of the Foreign pages. 
Off payroll workingWe’ve added an option to the Employments data entry to indicate whether employment income is from off-payroll working engagements. 

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