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The Account - Tax analysis template lets you break down a single trial balance account. It has two sections that you switch on or off independently: Accounts analysis, a general breakdown for your working papers, and Tax analysis, which identifies amounts that need a tax adjustment.
Table of contents
- When should I use this template?
- What do I need to do before I start?
- How do I choose between Accounts analysis and Tax analysis?
- Which tax analysis table will I see?
- How does the Corporation Tax table work?
- How does the standard tax analysis table work?
- What flows through to the rest of the workflow?
- Where does the data come from?
- Frequently asked questions
When should I use this template?
Use it on a profit and loss code where you want supporting detail behind the balance, or where the account mixes amounts with different tax treatments.
What do I need to do before I start?
If you are preparing the Corporation Tax return in Silverfin, select the business type in the Return information template first. The Corporation Tax table is built around that selection.
How do I choose between Accounts analysis and Tax analysis?
Each section has a tick-box next to its heading.
- Tax analysis is ticked by default. Existing accounts keep their set-up: if an account was only analysed through Accounts analysis, Tax analysis stays unticked so nothing changes. In files without the Corporation Tax workflow, depreciation and disposal of fixed asset codes start on Accounts analysis instead, because those amounts are already picked up by the Summary of disallowed expenses.
- Accounts analysis is unticked by default, unless the account already has rows in it. When ticked, it opens a table with an item, description, attachment and value for each row, reconciled to the trial balance. It does not feed any other template.
If both are unticked, the template shows Please select one option and stays unreconciled.
Next to the Tax analysis heading, an arrow link takes you to the template the analysis feeds: Profit and loss - Other comprehensive income - Additional analysis in a Corporation Tax file, or Summary of disallowed income and expenses otherwise.
Which tax analysis table will I see?
Tax analysis works out which table you need from the file. If the Corporation Tax workflow is in the file, you get the Corporation Tax table, which feeds the return. If not, you get the standard disallowed income and expenses table.
How does the Corporation Tax table work?
You see this table when the Corporation Tax workflow is in the file. To use the standard table in a Corporation Tax file instead, tick Enable non-CT tax analysis on the right of the heading. A caution asks you to confirm, because that analysis will not reach the Corporation Tax return. This tick-box is already ticked on accounts where Standard Tax Analysis was selected in the previous version of the template.
Advanced options
The grey panel above the table sets defaults and grouping. A row's own selection always overrides a default.
- Default tax treatment - tick to start every row on a treatment other than allowable, then choose it. A treatment must be chosen once ticked. Allowable is not offered, because rows are allowable anyway when no default is set. For investment businesses, investment income accounts start with this ticked and set to Miscellaneous income / loss.
- Default disallowable tag - pre-selects the tag on disallowable rows. It is ticked by default with a tag suggested from the account, where one exists. The suggested tags are only a guide, so review them. Untick it and each disallowable row needs its own tag.
- Group allowable items - sends all allowable rows to Corporation Tax as one line. When ticked, you can edit its description, which defaults to Allowable expenditure.
- Group disallowable items by tag - sends one line per disallowable tag, described by the tag.
For investment businesses, Default allowable tag pre-selects the allowable management expenses tag on allowable rows, in the same way as Default disallowable tag. Group allowable items by tag replaces Group allowable items, sending one line per allowable management expenses tag.
Grouping never changes the table below: every row stays as you entered it. Only the lines sent to the Additional analysis template are grouped, and tax totals are still worked out row by row.
Columns
| Column | What to enter |
| Item | Your own reference. It stays in your working paper and is not sent to Corporation Tax. |
| Description | What the amount is. This is what Corporation Tax shows for ungrouped rows. |
| (attachment) | Supporting documents. |
| Amount (£) | The amount of the row. |
| Allowable / Disallowable / Other | The row's tax classification. Allowable is selected unless you have set a default tax treatment. |
| Treatment / iXBRL tag | For Disallowable, the disallowable tag. For Other, the tax treatment, for example a capital allowances pool, depreciation or loan relationships. For investment businesses, allowable rows also need an allowable management expenses tag. |
Tags and treatments show in red until chosen. If a treatment needs a particular Corporation Tax schedule, an indicator asks you to star that schedule in the workflow. If the business type changes and a saved tag or treatment no longer applies, it is cleared, so you are prompted to choose again rather than carrying the old one through.
On export, the classification columns are hidden. A Treatment column shows the tax treatment for any row that is not allowable.
The total is compared with the account balance, with an unreconciled indicator showing any difference.
Summary
Below the table, the Summary shows the total for each tax treatment, with disallowable amounts (and allowable management expenses for investment businesses) broken down by tag. Rows missing a tag show as Missing tag, please select, and Other rows with no treatment show as Other - no tax treatment selected, each with a caution. The Summary always adds up to the table's total.
Hybrid businesses
If more than one business type is selected, the table keeps its previous layout for now, with an amount and tax treatment per business type. The Item column, Advanced options, grouping and Summary are not available for hybrid businesses yet.
How does the standard tax analysis table work?
You see this table when the Corporation Tax workflow is not in the file, or when Enable non-CT tax analysis is ticked. It records disallowed income and expenses for the Summary of disallowed income and expenses template, which must be in the file (a warning tells you if it is not).
Two settings sit above the table and work independently:
- Default disallowed category - tick and choose a category to pre-select it on every disallowed row. Untick it and the category is chosen on each row.
- Default disallowed % - tick and enter a percentage to mark every row as disallowable at that percentage. You can untick Disallowable on any row that should stay allowable, and change the percentage on individual rows. The percentage must be between 0% and 100%.
The columns are Item, Description, File, Amount (£), Disallowed % (when Default disallowed % is ticked), Disallowed (£), Disallowable and Disallowed category. Tick Disallowable on a row to disallow it. Disallowed (£) defaults to the full amount, or the percentage of it, and can be overwritten. A category must be chosen for each disallowed row. A warning shows if Disallowed (£) is greater than Amount (£).
On depreciation and disposal of fixed asset codes, the table is replaced by a warning, because those amounts are already included in the Summary of disallowed expenses automatically.
What flows through to the rest of the workflow?
- Accounts analysis is supporting detail only.
- Corporation Tax table - feeds Profit and loss - Other comprehensive income - Additional analysis, and from there the trading, property or investment income calculations and the relevant schedules. When the table has data, Analyse is ticked for the account in the Profit and loss / Other comprehensive income template. See How do I use the P&L / OCI - additional analysis template? (UK market) for the full flow.
- Standard table - disallowed totals by category feed the Summary of disallowed income and expenses.
Where does the data come from?
- Business type comes from the Return information template in the Corporation Tax workflow.
- Suggested disallowable and allowable management expenses tags, and the default disallowed category, are based on the account's mapping.
- Rows can be imported through the Import reconciliation data screen, including the Item column.
Frequently asked questions
Where has the "Select template type" dropdown gone?
The template now chooses for you. If the Corporation Tax workflow is in the file, you get the Corporation Tax table, otherwise the standard table. In a Corporation Tax file you can still choose the standard table with Enable non-CT tax analysis.
Why is Tax analysis unticked on some of my existing accounts?
Accounts you had analysed only through Accounts analysis keep that set-up, so they stay reconciled. Tick Tax analysis whenever you need it.
I have ticked a grouping option but still see every row. Is that right?
Yes. Grouping only affects what Corporation Tax receives. Open the Additional analysis template to see the grouped lines.
Why is a row's tag or treatment red?
It is required and has not been chosen. Disallowable rows need a tag, Other rows need a treatment, and allowable rows for investment businesses need an allowable management expenses tag.
Why does my code show a warning instead of the standard table?
Depreciation and disposal of fixed asset codes are handled automatically by the Summary of disallowed expenses, so the template does not duplicate them.
This article relates to the Account - Tax analysis template in the UK Working Papers and Corporation Tax workflows. It is provided as guidance and does not constitute advice.