Customer feedback & Ideas for IRIS

Suggest & prioritise ideas for our customer-driven roadmap

Ability to create one Trust & Estate tax return for an Estate in Administration for the whole period of administration (instead of doing one for each year in administration)

This is very useful for both reporter and HMRC since a formal return for an Estate in Administration is often treated as one administration period - which can span several years - not  individual returns for each year.

There are several conditions that need to be met in order to file a formal return, and one of those conditions span the entire administration period: the total Income Tax and Capital Gains Tax due for the administration period was more than £10,000. When assessing the necessity to file a formal return it is a gross waste of time and difficult to separate the data and input it into several years and then calculate the tax due for each year, and then add it up for the entire administration period (which may or may not add up to 10k, in which case all that input was a waste. If one could do it in 1 tax return that would help immensely and save lots of time. Even if the return doesn't transpire to fulfil the criteria, so isn't necessary, one can use the information to submit an informal return to HMRC - again for the whole administration period. Both accountant/reporter would benefit and HMRC would - since they any way view the administration period as one period - they often don't break it down in to years.

This should be simple to implement - instead of having to click in to each year, to input data , when setting up the client on IRIS trust tax and putting in the years of the administration period, one should then be able to put in data for all of those years. One anyway dates all the data that is put in - so it should allow you to add data dated for any of the years in that period.

  • Sophie Ganz
  • Mar 27 2019
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