»Ê¹ÚÌåÓýapp

Calculations
Calculation Result Summary

Calculations

Calculations is accessed from IABD on the Navigation Menu.

Customers or their agents will use third party software to submit details of income and expenditure from self-employment and/or income from letting property, bank interest, dividends and pension savings. This information will be submitted in at least 3 monthly intervals and stored in MTDB (Making Tax Digital for Business) Landing. 

»Ê¹ÚÌåÓýapp information from these reports is sent to the strategic calculator to perform a calculation using all appropriate allowances and rate bands from the start of the accounting period to the date the submission is made, to give an estimated calculation. »Ê¹ÚÌåÓýapp calculation is passed to the Calculation Store. »Ê¹ÚÌåÓýapp estimated liability will also be displayed to the customer on their Digital Account and software each time they make a submission.

Calculations can be accessed from the Navigation Menu by selecting

• IABD
• Calculations

When Calculations is selected, the Calculation Result Summary screen will be displayed.

Calculation Result Summary

»Ê¹ÚÌåÓýapp Calculation Result Summary screen will display the tax year. You can select and display information for a specific tax year. 2017/18 will be the first tax year.

»Ê¹ÚÌåÓýapp Calculation Result Summary screen will display a list of the calculations the customer has received for the tax year. This is a read-only screen.

»Ê¹ÚÌåÓýapp screen will display

• Calculation ID â€� this is created by the Calculation Store and is used to retrieve the correct calculation when requested
• Calculation Type
  • Estimated Tax Calculation â€� this will show the estimated year to date tax calculation based on the submissions reported by the individual
  • Tax Calculation â€� this will show the final tax calculation for the year
• Calculation Date â€� this is the date and time the calculation was performed
• Start Date â€� this is the start date for the period of the calculation
• End Date â€� this is the end date for the period of the calculation

If more than 10 rows of data, a button will displayed at the bottom of the screen to navigate to the next 10 rows of data.

From the Calculation Result Summary screen, if you select the View Record icon at the right hand side, a summary of the income, allowances, rate bands and year to date tax and National Insurance liability will be displayed.

»Ê¹ÚÌåÓýapp screen will display a breakdown of the calculation from the start date of the accounting period to the end date of the submission period.  »Ê¹ÚÌåÓýapp personal allowance and rate bands are divided by the number of days for that period.  Class 2 National Insurance is calculated by full weeks.  »Ê¹ÚÌåÓýapp screen will also display the ‘in periodâ€� total tax and National Insurance, which is the difference between the total tax and National Insurance liability since the previous calculation.