Tax modelling mode

The Tax Modelling mode enables you to copy an existing company and then to amend that copy in order to assess the tax effect of different scenarios.

When you use the Tax Modelling mode, you create a separate file with the information from the parent file copied to it. The new file doesn’t count towards your client limit.

Open the client and period on which you wish to base the tax model.

Either:

  • Go to Client dashboard and select Switch to Tax Modelling mode; or
  • Go to File > Switch to Tax Modelling mode.

When in Tax Modelling mode, each page will show an advisory message in orange, towards the top of the navigator. The title bar will also confirm the file as in Tax Modelling mode.

Note: The Tax Modelling mode option will create a parallel file for the same period as that from which it was created. If you wish to model a more recent period than the latest developed for the client, then you must firstly build that new period as a normal file and then generate the Tax model from that file.

On creation, the Tax Modelling mode file contains all of the information entered on the parent file.

Figures subsequently entered in the parent file will not automatically transfer to the Tax Modelling mode file.

You can enter, amend and remove information from the Tax Modelling mode file in exactly the same way as you would for the parent file.

You can produce reports and schedules for the Tax Modelling mode file in the same way as for the parent file. These are marked as relating to the Tax Model mode file, to help differentiate them from parent file reports and schedules.

You cannot file online from a Tax Modelling mode file.

To close the Tax Modelling mode file and return to the parent file, select Leave Tax Modelling mode from either Client Dashboard or the File menu.

If you have already created a Tax Modelling mode file for a case, then you may return to that file from the parent file by selecting Switch to Tax Modelling mode.

On selection, you will be given the choice of returning to the existing model or creating a fresh Tax Modelling mode file.

Select the option to Open existing file.

Creating a new Tax modelling mode file

If you have already created a Tax modelling file for a case, then, when you select Switch to Tax Modelling mode, you will be prompted to either return to the existing file or to create a new file.

Important: If you select Create new, then the newly created Tax modelling file will overwrite the existing one and any amendments made to that file will be lost.