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NRL tax calculations within AgencyCloud the Reapit system are fully automated - throughout the tax year, the system will calculate and determine how much tax is owed by the landlord then, at the end of each tax year, AgencyCloud it will stop automatic calculations and generate a final figure which is to be paid to HMRC through the tax payment run
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For information on how to process the tax payment run, click here: |
There will be tax payments taken throughout the year which will require adjustments due to a number of factors (e.g. change of financial circumstances, over/underpayment in tax in previous quarters) - this can be achieved by running the tax exception report, as outlined below
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Running the tax exception report
1. Accessing tax exception report From main menu:
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2. Report main screen
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3. If you have questions on the final adjustment calculation Questions on how the final adjustment calculation has been arrived at can usually be answered via the Export tax calculations report, outlined below To review a full breakdown of itemised income & expenditure due:
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4. Raise adjustment invoice To raise the adjustment:
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Tax calculations breakdown report
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