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Outlined below are the new features introduced in Sage Taxation 2021, version 18.104.22.168:
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 Calculation||The 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 filing||2020-21 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 property||Disposals 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 Relief||We 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 Cars||We'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 claims||View 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-employments||We 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 work||We 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 income||From 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 working||We’ve added an option to the Employments data entry to indicate whether employment income is from off-payroll working engagements.|