PTP Spring 2021 release v21.1
Overview
Our PTP Suite Spring release version 21.1.324 includes all legislative updates to ensure your ongoing compliance, as well as a change to allow for future integration with the IRIS Elements Platform and several security maintenance updates to ensure that online transactions remain secure.
PTP Accounts Production (v21.1.0.652)
Revised Financial Statements (amended accounts)
It is now possible to prepare Revised Financial Statements. This functionality includes new data screen sections and report outputs and is now available for most accounts formats and associated accounting standards. Currently electronic submission of Revised Accounts is not permissible, and the software will prevent this from happening if an attempt is made.
Incorporated Charity, Unincorporated Charity and Academy Accounts – ISA Audit report update – Conclusions relating to Going Concern
Following similar changes included in the Autumn 2020 release for Limited Companies LLP’s, Groups and Pension scheme accounts. Incorporated and Unincorporated charity accounts now include updated sections in the Audit Report
FRS 102/FRS 101 Reduced Disclosure Exemption update
We have updated data screens in this area and removed now defunct annotations that relate to specific disclosure exemptions. The changes will be visible for accounting periods starting on or after 1st January 2019. Again, the older layout can still be triggered from the Old Legislation section within the Data Screens.
FRS 105 – Additional Flexible Disclosure
From within the Data Screens Notes to the Financial Statements Section we have included new freeform Data Screens to provide some additional flexibility in reporting disclosure with FRS 105.
Charity Revaluations
We have now updated Charities to include the same Revaluation Data Screens as normal Limited Company formats, these changes include the relevant iXBRL tags for submission purposes.
Pension Scheme Accounts – Implementation Statements
The regulatory changes in 2018 introduced the concept of an annual Implementation Statement in which trustees set out how and the extent to which the SIP has been followed during the year.
The trustees of the relevant schemes are required to include a new Implementation Statement relating to the scheme’s investment in their annual report for accounts produced on or after 1 October 2020.
New data screens have been added for Pensions to accommodate inclusion of an Implementation Statement.
PTP Tax Platform
Client main details
The Client Main Details data format has been updated to allow for future integration with the IRIS Elements Platform. This process has been largely automated, but we ask that you review the data to ensure it is displayed correctly. The new format will be evident when adding a new client but there will also be an update to the structure of existing data that occurs as you access each client’s record for the first time in the 2021 release. The updated data will be displayed and at this point you will have an opportunity to change any of the automated suggestions before saving.
Tax Legislation and annual updates:
- Updated Dividends databases
- Updates to SA100, SA800, SA900, R40 and CT600 forms
- All the updated reports, calculations and rates for the 2020/21 tax year
- Updates to Capital Allowances
PTP CT Platform
Includes the new CT600L Research & Development supplement (part of CT600 v3) for periods starting on or after 1 April 2015.
All Tax
CJRS and SEISS (grants and claims)
Includes form updates for all the different types of coronavirus support schemes which need to be reported, as well as incorrectly claimed grants.
PTP Tax Filer
Includes updates to reflect the post-Brexit changes to the VAT Return.
General
We continue to maintain and update our products to ensure that they comply with the latest online security requirements.
