Tax estimate is zero

Problem reported by Andrew Taylor 9 years ago

On the profit and loss report, the income tax and NIC estimates are all zero, regardless of the amounts above. Do I have to do something to enable these estimation calculations.

8 Replies

Can you post the answer here please, I have the same issue. - ie how do I make Clearbooks automatically calculated tax (at 20%)?

Hi Ed

Are you a limited company or self-employed?

In that case, to the best of my knowledge, Clear Books will simply apply 20% to the net profit showing on this years P&L.

It won't add back depreciation, it won't add back client entertaining and it won't add back the likes of fines/penalties or anything else that isn't tax deductible. Nor will it take Capital Allowances into account for purchases that have hit the balance sheet.

In my humble opinion (and I don't say this lightly as I love Clear Books), unless you've personally got a very good grasp of limited company accounting, that particular widget is best switched off.

I would like to turn it on, so that every time I make an entry in assumes 20% tax. And then at the end of the reporting period the tax calc can be done properly.

So do you know how to turn that "particular widget" on?

Presuming you've got full admin rights....

  1. Scroll to the bottom of the home page to where it says Customise Dashboard.
  2. Hit the + sign over on the right
  3. Tick Dividends
  4. Hit save

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