Sage help

DELBERT

HI
What is the best report from sage to do the tax retun., and how do i find it on sage, I am guesing its not the profit and loss as not a lot of details/

any help would be great

Savvy_Sue

Since I have absolutely no idea, I'm going to ask which tax return this is, for you as an individual, or for a company?

DELBERT

HI

this is for a partnership tx returns

trailingspouse

Personally, I wouldn't touch Sage with a barge pole. I thought there was something wrong with me - I did the Sage self-study course, spent a couple of hours every day trying to get to grips with it, worked out that half of what Sage Instants does isn't necessary for our particular business (eg stock control), but that it doesn't do some stuff that we need (eg EC Sales Lists). Finally 'fessed up to my accountant that it wasn't working for me and that I'd gone back to using our old cashbook. Expected her to be shocked, as she'd recommended Sage in the first place. And she admitted that it doesn't work for everyone.
My advice re Sage and tax returns - use an accountant, that's what they're for.

morgani

You will need to use the trial balance. This shows the account balance totals for all entries.

Some checks fort need to be made that all seems correct - does the bank reconcile? Some control account cheks to ensure the VAT, PAYE etc shown is correct.

You can use these accounts as a starting point. Not forgetting to add back any items not allowable for tax such as depreciation, client entertaining, etc and the adding in items allowable for tax not yet included such as capital allowances.

What you will have achieved so far is the bookkeeping. There is now a whole set of additional work required to do the accounts, tax computations and tax return.

How do you plan to file as I think it's still the case that HMRC still have no free tool for filing partnership returns?

An accountant may well be your best bet.

martindow

morgani wrote: »

How do you plan to file as I think it's still the case that HMRC still have no free tool for filing partnership returns?

There is no free way of submitting a partnership return on line but you can send a paper tax return as long as it is in time (September?). This was the case last year - hopefully still available this year!