Download the update choosing Run (or Save if you wish to store the file in the network location to update other computers in your office)
Run the update and follow the on-screen prompts. Click Finish when prompted to close the installer.
Restart the PC if prompted.
Run the update on every PC accessing Keytime software (access the update from the network location in step 3 above).
To check the version number open any Keytime module and click the Help menu select About.
What's New in Keytime Accountants' Suite Spring 2017 Release
The Spring 2017 release of our Keytime Accountants’ Suite is the first of many that provides focus on digital enablement and alignment to HMRC’s Making Tax Digital initiative. With the first mandate looming in April 2018 we have included a number of functional enhancements that enable users to keep ahead of the latest legislative changes whilst delivering a number of productivity and efficiency gains across the Suite.
Keytime Personal Tax
Includes pre-population of client data made available via the Digital Tax Account as it is enabled by HMRC so you clearly see and opt to utilise the information already held by HMRC when completing the client's return.
KNOWN HMRC ISSUE WITHIN 2016/17 INDIVIDUALS SELF-ASSESSMENT CALCULATION
Following detailed reviews and communications it has been confirmed that in four specific scenarios HMRC have made errors within the 2016/17 tax calculation for individuals. For those affected it is currently possible to file a 2016/17 return online with the incorrect amount of tax calculated and it be accepted by HMRC. We are working closely with HMRC on an update to the tax calculation and expect this in our next available release. Full details of the issue the affected scenarios and assistance in calculating the correct amount of tax can be found byclicking here
Included in this Spring release:
Automatic information pre-population for Individuals
Records - Business name and PAYE Ref
Other income – jobseekers allowance incapacity benefit etc.
Tax refunded or set off by tax office
Class 2 NIC
Keytime Corporation Tax
Changes have been made to allow for loss reforms announced by the government:
Losses arising from 1 April 2017 can be carried forward and utilised against the taxable profits of different activities whereas this was not possible for losses arising pre 1stApril 2017
There is limit set on the amount of losses that can be carried forward in line with the 50% restriction on losses brought forward over £5m
Keytime Accounts Production
Our Spring release concentrates on compliance with updates for charities and LLPs:
Charities have been updated to SORP 2015 (for FRS 102)
LLPs have been updated for FRS 102
LLPs can now be filed on-line at Companies House (FRS 102 only)
Keytime Practice Manager
Our Spring release adds a number of additional features and enhancements:
Enhanced integration with the modules detects and links a new tax record with existing record in Practice Manager based on known facts
Subtle changes have been made to the user interface; reports has moved from a button on the main tool bar to a tab on the main screen making the main screen look less cluttered and giving a bigger ‘viewing area’ for reports being previewed on screen
In client records the Communications Documents Minutes and Dividends tabs have been moved to a new Documents tab giving a cleaner less cluttered look
Outlook integration now saves email attachments
Keytime Company Secretarial
Our Spring release includes:
A new Documents button has been added to client records which gives the ability to display filing history from Companies House. You can also download copies of filed documents and save them on the client record
In response to feedback received from Companies House we’ve made a number of changes that should greatly improve our CS01 submission success rates
Introducing multiple approval for document collaboration with clients via IRIS OpenSpace
Getting Started with Keytime - A series of videos to help you get started with Keytime: