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This guide has been reviewed against our global client base and classed as relevant to UK only

This guide explains how to access and use the tax exception report, as well as how to get an explanation of how the final adjustment calculation has been arrived at through the tax calculations breakdown report

This guide covers:

NRL tax calculations within AgencyCloud 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 will stop automatic calculations and generate a final figure which is to be paid to HMRC through the tax payment run

Date changes/adjustments against landlord tax liability within the tax year are the most common reason why end of year adjustments are needed

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

Tax exceptions must be completed prior to processing your tax payment run to HMRC

Running the tax exception report

1. Accessing tax exception report

From main menu:

  • Click Lettings

  • Click Landlord Tax and select
    Tax Exception Report

The Tax Exception Report should only be ran from 1st April onwards before completing the tax run

2. Report main screen

  • The report provides the Date Range the tax adjustments relate to (bottom left) - this always defaults to the tax year just ended

  • The report includes all exceptions from 1p upwards

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:

  • Right-click over the relevant landlord and select Export tax calculations

  • The report will open in Microsoft Excel

Before contacting Reapit Support, it is strongly advised to review and check this spreadsheet first

For more information on this report, see this section

4. Raise adjustment invoice

To raise the adjustment:

  • Right-click over the relevant landlord and select Raise adjustment invoice

  • Click Yes

  • Click OK

Appropriate system configuration security is required in order to raise the adjustment invoice
If this option is not available to you, contact Reapit Support

Tax calculations breakdown report

  • As outlined in step 3 above, the tax calculations breakdown sheet will itemise all taxable income and expenditure, including all historical deductions made throughout the tax year (if applicable)

  • Any refunds which have been issued will appear under the Landlord Payment Run/Payments screen to pay the credit balance out to the BACs run

  • Similarly, within the tax payments run, a log of this is recorded to recover the funds from the tax ledger, holding back this balance from the total amount payable to HMRC

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