DIGITA RELEASE BULLETIN - CORPORATION TAX 24.0 Revised

Further to the email on the 13th June we have found a solution for the errors raised and have now made available a revised Digita Corporation Tax 24.0 (build 3958) to resolve the following:

1. Balancing charges are duplicated in the adjusted trading profit calculation on the computation.
2. When trying to close the capital allowances schedule a dialog pops up with the warning 'CA Allowances Machinery Plant Other (-xxx) cannot be negative.'

Thank you for your understanding and patience whilst we investigated a solution. We apologise for the inconvenience that this will have caused you.

This release includes the following enhancements:

• Latest forms and HMRC updates:
  • Updated CT600 2024 forms.
  • Taxonomy and schema updates to enable tax return submissions for periods ending on or after 1 April 2024.
• Additional functionality to assist with full expensing claims:
  • We have updated the calculations so that additions dated on or after 1 April 2023 will now populate the full expensing boxes on the CT600 form.
  • We have added a checkbox for disposals, which will ensure that the proceeds are treated as a balancing charge and populate the full expensing boxes on the CT600 form.
  • Super deduction additions and disposals remain a manual process as this relief has now been superseded by full expensing. You should refer to our knowledge bases for the previously advised workarounds here.
  • We have not included any changes to computation parameters in this update on the assumption that these have already been updated.
• Bug fixes, including:
  • Box 329 incorrectly being checked when the main company tax rate had been overridden.
  • Adjustment to tagging of FYA additions to avoid duplicate tag warnings preventing submission in some cases.
  • Additional information added to losses brought back on tax computation report to assist with loss carry-back claims.

Future updates

We are aware of a refresh issue impacting the updated full expensing calculations. If the capital allowance calculation does not seem to be correct, please close and reopen the company. We are looking into the cause of this issue and hope to issue a fix in our next release.

The detailed profit and loss taxonomy will be updated in our next release, this is due to technical changes which require further investigation.

We are working on the changes coming in relation to the Research and Development tax reliefs for accounting periods commencing on or after 1 April 2024.

The content for Digita Corporation Tax Advanced is currently being compiled and we expect that this will be released in August.

Download

The latest release can be downloaded by clicking here: Digita Corporation Tax 24.0 (Build 3958).

Applying the Update

When installing the update, if needed, the installation guide can be found here.
Please ensure you backup your database using the Digita Database Backup tool before applying the update.

• For standalone installations: download and apply the update on the workstation where Digita Corporation Tax is installed.
• For network server and peer-to-peer installations: download and apply the update on the machine which is acting as the server. Once the server has been upgraded, the Auto-Node update process will automatically apply the update to each workstation (node) the next time the user logs into the software.

To verify that the update has taken effect, open the Digita Corporation Tax software and select Help | About Digita Corporation Tax. The dialog should show version 24.0 (Build 3958).

Digita Virtual Office

A separate email will be sent to Digita Virtual Office (DVO) users to confirm upgrade details in due course.

Distribution

This bulletin has been sent to the Corporation Tax Newswire contact(s) in your firm. Please forward to Corporation Tax users as appropriate. If you would like to add or remove contacts from the bulletin distribution list, please provide details using this link.