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Ftax Data Transfer

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We are very grateful to our clients for their comments and suggestions, without which these guides would not be possible. If you have a suggestion to improve this guide or its associated video, please email tracey@ftax.co.ukrule line

Ftax Data Transfer - Overview

Ftax Data Transfer is a new feature of the Ftax service which will help you to complete your tax returns by automatically moving tax filing data between forms. This should reduce errors and make it quicker and easier to file tax returns to HMRC. Ftax Data Transfer may be turned 'On' or 'Off' via the 'Help' menu when required.

This guide will briefly describe the following aspects of the Ftax Data Transfer:

  1. Moving Data between Forms
  2. Turning Ftax Data Transfer On and Off
  3. Transferring Data from a Previous Year Form
  4. Transferring Data from the Ftax Cashbook

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1. Moving Data between Forms

The new feature will automatically:

Forward previous year tax data when a current year tax return is first opened:

Previous year tax data to current year tax return

 

Forward data from the Ftax Cashbook to the Self-employment or UK Property sections of the SA100, to the SA800, or to the iXBRL Accounts section of the CT600 form:

Cashbook to SA100, SA800 and CT699

 

Forward data from the SA800 Partnership Statement to the SA100 Partnership sections for each partner:

SA800 Partnership Statement to SA100 Partnership Sections

 

Save tax return data to your Ftax Account from the form, and then import the data back into a new copy. This provides an easy way to transfer your data to a new upgraded version of the form:

Ftax form data to ftax account to new form

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2. Turning Ftax Data Transfer 'On' and 'Off'

If you do not wish to benefit from Ftax Data Transfer then the feature may be turned off. However, we recommend that the feature is on as this will make it easier and quicker to complete your returns and may eliminate errors.

Make sure you have downloaded the latest version of the Ftax Form. Click the question mark in the red ball on the front of the form to access the drop down menu:

Click the red ball

 

Click 'Turn Ftax Data Transfer On' in the drop down menu to turn the feature on:

Turn ftax data transfer on

 

Similarly, click 'Turn Ftax Data Transfer off' to turn the feature off:

Turn ftax data transfer off

 

If the new feature is on, this will be confirmed by a message towards the top left of the opening page of the form:

Ftax Data Transfer is on message

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3. Transferring Data from a Previous Year Form

In this example:

  • An Ftax SA100 was submitted in the previous year.
  • A Cashbook was also completed in the previous year.
  • The current form is opened for the first time and Ftax Data Transfer turned on.
  • All Ftax tax return forms will work the same way.

On opening the tax form, the user is prompted to log in to a Ftax Account if they haven’t already done so: 

Log in page

 

A drop-down list of existing tax filers within that account is then displayed:

Select tax filer

After a tax filer is selected, and if necessary a credit allocated, then the Ftax form checks to see if data for this current year has already been saved or if data from the previous tax year has been stored in the account.

 

As this is the first time this year’s form has been opened the user is prompted to transfer data stored following last year’s tax return submission for this tax filer:

Previous year data import

 

When the data has been successfully transferred and imported then a popup will confirm this:

Data imported success message

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4. Transferring Data from the Ftax Cashbook

If a Cashbook had been setup to enter and record incomes and expenses for the same tax filer during the previous year, then the user will be then prompted to input this forwarded Cashbook into the SA100, usually in the Self-employment section:

Cashbook data import

 

A popup will confirm when this data has been successfully imported:

Pop-up cashbook data imported

Pre-populating the tax returns as they are opened is beneficial in that the risk of data input errors is minimised. It also saves time as data only needs to be entered once. 

 

Like all other aspects of Ftax Data transfer, this operation has been designed to reduce errors, enable more accurate data transfer and make filing quicker and easier. If you do not wish to use the service, you can easily turn it off. If you have any comments to make or any enhancements you would like to see, please don't hesitate to contact us, we are always delighted to hear from you.rule line

We are very grateful to our clients for their comments and suggestions, without which these guides would not be possible. If you have a suggestion to improve this guide or its associated video, please email tracey@ftax.co.ukrule line

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