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Abacus Trust Taxation has been specifically designed by Deloitte to cater for the most complex areas of trust taxation.
The software is used throughout Deloitte for the preparation of trust returns.
Abacus Trust Taxation can be used to complete returns for all types of trusts and estates, including:
The software allows for completion by personal representatives or trustees. It may be used to allocate discretionary payments, and can cater for the circumstances of the trust changing in the financial year.
Automated return completion
Abacus Trust Taxation includes a full set of Inland Revenue-approved facsimile forms which the software automatically completes. The following returns are supported:
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Main return
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Trade
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Partnership
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Land and property
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Foreign income
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Capital gains
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Non residence
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Charity
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Lloyds
The software will also create and complete the R185 form, certifying the deduction of income tax.
Risk assessment
The software includes two tax calculations - one following the Deloitte process and the other, the Inland Revenue instruction sheets. This enables the preparer to have complete confidence in the tax calculation.
Abacus Trust Taxation provides a full audit trail. A source must be entered for each number. Each time a cell is changed, the date and time of the change, and the name of the person that altered it, is added to the audit trail.
Automation
Abacus Trust Taxation also provides a fully integrated compliance solution:
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On-line data collection tools are available
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Integration with workflow, administration and tracking modules.
Support
Deloitte is committed to the future development of Abacus Trust Taxation. The product is developed by a specialist team with expertise in all areas of personal tax compliance and software development. There are at least two releases a year, to update the software for legislative changes and to include system enhancements.
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