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This article provides a step-by-step guide on how to process spread taxable gains in Silverfin. Follow this guide to efficiently work with the template and set up your reporting correctly.

TABLE OF CONTENTS

Step 1: Activating the Account Template

Start by activating the account template "capital gains (680)" on account 680 (Transfer to deferred taxes). This template serves as the foundation for further processing and reporting.

To do this, select "Edit" and then choose the correct account template (see image) within your client file. 


Step 2: Data Reconciliation

Enter the relevant data for the sold fixed assets where a gain has been recorded that qualifies for spread taxation. Don’t forget to enter the applicable tax rate. This information is crucial for accurate calculation and processing.


Step 3: Working File: Spread Taxable Gains Note

The information from the account template is automatically transferred to the "spread taxable gains" note. Here, you can input the respective reinvestments for each gain. Silverfin will automatically calculate the taxable portion of the gain based on the depreciation.


Step 4: Overview per Gain

For each gain, you will receive an overview of the portion included in the current fiscal year's results. Based on the applicable tax rate, the distribution is made between "withdrawal from tax-free reserve" and "withdrawal from deferred taxes."


Step 5: Reconciliation of Totals

At the bottom of the note, the totals for the tax-free reserves and deferred taxes, as well as the total withdrawals in the current fiscal year, are reconciled. This provides insight into the financial impact of the spread taxable gains.


Step 6: Corporate Tax: 276K Note

To use the data for completing the 276K form for corporate tax, simply check the box. This will generate two summary tables: one with the gains subject to spread taxation and one with the taxable portion of the gain for each reinvestment in the current fiscal year.

Step 7: Elements for 276K Declaration

In this part of the note, you will find all the necessary elements for the official 276K declaration. Note that the presentation differs from the paper version as it is vertical rather than horizontal, and item repetitions across different tables have been eliminated. All fields are automatically transferred to the XBRL export required for valid submission via Biztax.