IRIS Spring v24.1 service pack

Overview

The IRIS Accountancy Suite Spring service pack release version 24.1.4.33 provides you with updates to the latest forms and, resolutions to a number of issues, some of which are listed below. 

IRIS Company Formations and Company Secretarial 

The following paper forms have been updated with the Companies House fee change that came into effect on 1st May: 

• IN01/LLIN01 
• CS01/LLCS01 
• NM01–NM05/LLNM01 
• MR01-MR03/LLMR01-LLMR03 
• MR08-MR10/LLMR08-LLMR10 
• DS01/LLDS01 

IRIS Smart Tax 

Smart Tax has been updated with the latest 2024 tax rates, providing you with accurate calculations and an efficient view of the client’s financial position. With Smart Tax’s live instant calculation feature, the latest calculation is displayed giving you instant feedback to the information entered for your client

IRIS Personal Tax

Resolved issues:

• Overlap relief set off – corrected the treatment of overlap relief used against untaxed income, no longer being included as income tax relief on the tax computation. 
• Transitional profits – corrected the software validation where the net loss is greater than the apportioned profits after overlap. 
• Class 2 NIC – updated the calculation of class 2 NICs to be calculated on 53 weeks for tax year 2024.
•  Overlap relief – updated the software to retain the values entered within overlap relief used against other income.  
• Pre-pop values – software updated to correctly reflect the value of van benefit returned via pre-pop from HMRC (Where ‘HMRC value is selected).  

IRIS Business Tax 

Resolved issues:

• Capital allowances – correct calculation of balancing charges on assets in APs starting 1st April 2023, where the asset had super deductions claimed on addition. 
• Non-trading intangible fixed assets – correct treatment where NTIFAs brought forwards have been manually entered into Business tax.  
• SME R&D Tax Credits – entries made within ‘Company PAYE and NIC Liabilities’ are now correctly retained by the software.  
• Associated Companies – corrected the entries made on the CT600 for associated companies for CTAPs that end before 1^st April 2023.

IRIS Time & Fees

Resolved issues:

• Period selection option fixed in the Postings List report. 
• IRIS Time closing when running the posting lists report. 
• Fees export returning incorrect symbols in the narrative field. 
• Practice Management closes when marking an invoice as paid when accounting for VAT.