CCH Corporation Tax 2023.1 Service Pack: Release Notes
Release Highlights
This release of CCH Corporation Tax is specifically targeted to include the following:
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A selection of quality improvements
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The updated Computational Taxonomy
Prerequisites
Installing CCH Corporation Tax 2023.1 Service Pack
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
New Computational Taxonomy
The 2023 Corporation Tax Computation Taxonomy is included in this release. As in previous years, this goes live on the HMRC gateway shortly after this release but before the 2023.2 release. This new taxonomy will be used for all new corporation tax returns generated after 16th June 2023. Existing returns generated before this date are unaffected.
Configuration Key
We have added a configuration key CT_Use2023Taxonomy to ensure that all submissions created on or after 16 June 2023 use the new Computation Taxonomy. Existing submissions created before this date using the 2022 computation taxonomy continue to be accepted by the Government Gateway; there is no need to regenerate the IR mark.
Quality Improvements
The following quality improvements have been included in this release:
ITS 61700 - Maximum Group Relief Set Off
We are aware there are differing interpretations of CTA 2010 s105(5)(b). It is the phrase “losses, allowances or other amounts”. One interpretation advises “Allowances” refers to Capital Allowances whereas another interpretation advises it refers to “Excess Capital Allowances”. To enable you to select which interpretation of the legislation you require a checkbox is now included in the loss utilisation screen to enable a choice to be made.
When selecting the alternative calculation of loss relief, then the maximum losses available for group relief surrender is based on the restriction of group relief including “Excess capital allowances”.
ITS 66563 - Export of Good or Services
Boxes 616, 617 and 618 for exporter details should be completed on a discretionary basis. We have removed the requirement for these fields to be completed, these may now be left blank if required. When the case is rolled forward to the next Period of Account, the boxes are now left blank by default.
ITS 66608 - Deferred Tax doubling of sale proceeds
The Deferred tax calculation report for Capital Allowances was including the sale proceeds twice. We have amended the software so the disposal proceeds show the correct values
Notable Issues
The following items were discovered late in the testing of this release, we will seek to address these in the 2023.2 release:
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 are not being carried forward when the roll forward is invoked
The workaround is to manually add the values in the brought forward override column.
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 causes an error when saving.
The workaround is to remove the tick and close the tax return. Add a white space note as an explanation if required.