Online Reporting

This article relates to the 22/23 Online Reporting System

To access the new reports, click the ‘View your report online’ button on the dashboard.

The system will then load your MalgraBooks Client dashboard. If required, login to your account.

Once ready, you’ll be provided with the Cloud Spreadsheet Sync page – simply click the ‘Sync Data’ button to continue.

The system will then sync data from your cloud spreadsheet.

No data is shared with any third party and is not submitted to HMRC through this tool

Once synced, you’ll then be provided with your Self Employment Calculation

Overall Financial Data

Although we aim to make this tool as accurate as possible, final tax numbers and calculations will be provided by HMRC when you prepare your return as a number of items are not apparent until finalising submission (for example, different tax codes, other income sources, etc)

The first section of this page provides details of who is logged in, and the date when the data was last synced. You can re-sync the data using the button provided.

The overall three figures needed for your tax return are shown – your income, expenses and profit/loss for the financial year.

There are then further calculations provided below.

Income Tax Calculation

If you have other employment or income, this section will need changing to show the personal allowance remaining where this has been used elsewhere. View this article to understand how to adjust the personal allowance.

In the example above, you can see that the overall profit/loss was £24,512 – this figure has then been used for calculations

The Income Tax Calculation removes the Personal Allowance (£12,570) from the profit of £24,512 – leaving £11,942 which is used for Tax and National Insurance

The box on the right then shows the approximate tax amount at 20% which would be charged on this remaining balance.

National Insurance

The next section shows NI Calculations on the profit amount

Class 2 and Class 4 have been charged as the profit was above the personal allowance for 22/23. If you have not met the threshold, this section may not appear.

Health and Social Care Levy

Following further Government changes, this levy has been abolished.

Payments on Account

Where Payments on Account will be due, this is shown below. The calculation is based on Tax and NI Class 4 which is due, and the different payments are shown in the fields above.

Note: Due to rounding, this could be 1-2p out. If you have not met the threshold, this section may not appear.

Overall Tax Calculations

At the bottom, you’ll find an overall calculation

This section pulls together all of the options above – from Income Tax, National Insurance and Payment on Account.

Updated on February 17, 2023

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