UK Tax Reporting

cfch's Avatar

cfch

16 Nov, 2020 06:04 PM

It's great (in Version 2020 and later) to see that the UK Tax Date (6th April) is now included as an option in preferences but could we now please get UK Tax Year Reporting?

At the moment if you choose, say, 6th April 2019 to 5th April 2020 you get a report with 3 columns:

  1. 6th April 2019 to 31st December 2019
  2. 1st January 2020 to 5th April 2020
  3. A total of the above.

If you choose 6th April 2016 to 5th April 2020 you get:
1.6th April 2017 to 31st December 2017
2. Calendar 2018
3. Calendar Year 2019
4. 1st January 2020 to 5th April 2020.

I'm sorry the UK tax system is so obtuse but what you need is a report which shows a SINGLE column for each Fiscal Year so and covers 7 years (again a tax requirement).

See attached file.

Charles

  1. 1 Posted by Stuart Beesley ... on 16 Nov, 2020 06:08 PM

    Stuart Beesley - JUST A FELLOW USER's Avatar

    #upvote
    #me-too
    #yes-please1!

  2. 2 Posted by dwg on 16 Nov, 2020 07:35 PM

    dwg's Avatar

    I'm a fellow user.

    In Australia the tax Year starts on July 1 and I use the Income and Expense reports for Tax reporting. I just set my saved report to all dates and chose it to group by fiscal years, The result is having a series of columns each covering a fiscal period 1/7 through 30/6, I'm not seeing any problem.

  3. 3 Posted by cfch on 16 Nov, 2020 08:47 PM

    cfch's Avatar

    Dwg;

    Thank you so much for your reply. I've found the option, tested it and it works!

    Problem solved.

    All the best.

    Charles

  4. 4 Posted by Stuart Beesley ... on 17 Nov, 2020 09:55 AM

    Stuart Beesley - JUST A FELLOW USER's Avatar

    WOW - I had never seen the April 6 date - when did this arrive? I also had not understood the Fiscal Year Start setting in Preferences and the linkage to the Fiscal Year grouping in (only) some reports. This is great!!! Thanks for the tips guys!!

  5. 5 Posted by cfch on 17 Nov, 2020 09:58 AM

    cfch's Avatar

    It was first introduced in version 2020 but not really publicised! It makes a huge difference to all of us in the U.K. and I suggest to Moneydance that they include a reference to it in their FAQs and elsewhere.

    Charles

    ________________________________

  6. 6 Posted by dwg on 17 Nov, 2020 10:25 AM

    dwg's Avatar

    I can find the April 6 Option for Fiscal year as far back as Moneydance 2012 - I do not have anything older installed.

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