CCH Personal Tax 2024.3: Release Notes
Release Highlights
This release of Personal Tax includes the following quality improvements:
- ITS 67942 - Cash basis box
- ITS 68019 - Year end change
- ITS 68072 - Qualifying loan interest schedule
- ITS 68098 - EIS relief
Prerequisites
Installing CCH Personal Tax 2024.3
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 and Compliance Updates
Quality Improvements
ITS 67942 - No warning if cash basis / traditional accounting box is not ticked
Where the total income from Land and Property exceeds £150,000 box 20.2 should be ticked. Where this was not happening it was not appearing in the in the errors and exceptions panel . This has been update for all form types, Individuals, Partnerships and Trusts.
ITS 68019 - Changed year end in 2023 causes 2024 assessable period to be incorrect
Users had reported that when a business changed its year end in 2022/23 (in preparation for basis period reform), the start date of the 2024 assessable period was incorrect.
Instead of picking up the start date as that immediately following the 2023 assessable period, it used the 2023 period start date. This affected sole trade business tax in Individuals and Trusts and was happening in instances where an additional short period had been added to the 2023 return. Instances where the accounting period had been extended to create a long accounting period were handled correctly. Partnerships were unaffected.
Note! If you have previously created the 2024 accounting period, the dates are automatically corrected, even in instances where ‘Lock accounts’ has been selected. If you have previously applied a workaround, please check your figures.
ITS 68072 - Qualifying Loan Interest Schedule
Users had reported that when exporting the entire tax return and schedules, the Purpose column showed a numeric value and not the description e.g. Lending to a company. The column now correctly displays the selected purpose.
ITS 68098 - EIS and CGT
Users had reported that where an EIS relief claim has been made to set off the loss against current year income, it was correctly set against income in the computation but then also incorrectly against CGT reducing the amount of CGT to be paid by way of a negative figure in box CGT51, thereby double counting the EIS relief.
Items included in the 2024.210 Service Pack
The items included in the 2024.120 Service Pack are listed below.
Legislative and Compliance Updates
Updated FTSE350 File
We have been advised that the following securities were missing from the FTSE350 file supplied by our 3rd party suppliers:
These are now included as part of the updated FTSE350 file is included with this release.
Changes to the HMRC Test Transaction engine
Some behind the scenes changes have been made by HMRC to the Test transaction engine. These changes are included in this release.
Quality Improvements
Partnership Returns - Pre validation routine
We identified an issue where the pre-validation routine was not running fully when generating an IR mark. This meant that some returns were failing submission even though an IR mark was generated. This has now been rectified in this service pack.