CCH Corporation Tax 2023.2: Release Notes
Release Highlights
This release of CCH Corporation Tax is specifically targeted to include the following:
1. Changes for the 2023 Budget
2. New 2023 Taxonomies (FRC/DPL)
Prerequisites
Installing CCH Corporation Tax 2023.2
This release is installed using the Central Suite Installer. This ensures that all prerequisites are in place and that all the products for which you are licenced are installed in the correct sequence. Click here to learn about the Central Suite Installer.
Legislative & Compliance Updates
Budget 2023 Changes
The following items from the 2023 Budget are included in this release:
Changes to the rates for the Patent Box
We have made changes to the "fraction" used in the calculation for Patent Box deduction – this differs according to the corporation tax rate applied to the company's profits - albeit at small or main company rates.
Extension of the EVCPA
First year allowance of 100% for expenditure on Electric Vehicle Charge point has been extended from 31st March 2023 to 31st March 2025.
Changes to the rates for Theatre, Orchestra and Galleries Exnibitions Tax Relief
New rates for Tax relief are optional from 1 January 2024 and 1 April 2025, and there are transitional arrangements that will apply to 31 March 2027 for continuing projects. The continuing projects can be claimed under either scheme:
| Film/TV | 34% |
| ANimation/Children's TV | 39% |
| Video Games | 34% |
Note: The R&D changes are planned for inclusion in the 3023.3 release
New FRC Taxonomies for 2023
The following new DPL taxonomies for 2023 are included in this release:
- CT-COMP-FRS-101-SECR-DPL-2023-01-01
- CT-COMP-FRS-102-SECR-DPL-2023-01-01
- CT-COMP-FRS-FULL-SECR-DPL-2023-01-01
Quality Improvements
The following quality improvement(s) are included in this release
ITS 66197 - SBA Tax WDV is not displayed when entering historic entries
In the first POA of a company and the customer enters details of a qualifying building that qualified for SBA in an earlier period, the values appear correctly in the UI (summary screen) and DES (data entry screen) but the values were not appearing in the "Tax WDV Bfwd" column in the corporation tax report.
ITS 66643 - No analysis of additions on computation when ther is no main pool
Where there is no longer a requirement for a Main Pool to exist, these additions are reported on the computation.
ITS 67692 - Rate of s455 incorrect for loans made after 5 APril 2023
The loans & repayments are calculated at the correct rate of 33.75%
ITS 67701 - Alternate calculation for group relief surrender - roll forward of losses
When the check box is ticked for the Alternate calculation for Group relief surrender, where losses post 2017 exist, these were not carried forward when the roll forward was invoked
ITS 67702 - Alternate calculation for group relief surrender - ticking the checkbox causes error
When the check box is ticked for the Alternate calculation for Group relief surrender, this caused an error when saving.
Notable Issues
CT&CT iXBRL tags on database upgrade
We have noted that the time taken to upgrade the database in this release has increased. Please be aware the upgrade is running and may take some time. We will look to identify the cause in a future release.
2023.110 SP details
For those who have not installed the 2023.110 Service Pack, details of the release can be found by clicking here.