Alphalife

Alphalife Tax Software

Alphalife is a comprehensive software solution with advanced levels of automation and technology allowing organisations of all sizes manage their life tax computations. Having both life and non-life capabilities, Alphalife provides an exceptional tool to support you during all phases of the compliance cycle.

The application incorporates the following features:

  • Two categories of business: BLAGAB and Non-BLAGAB
  • Profit before tax in the statutory accounts as a starting point for the trade profits computations (BLAGAB and Non-BLAGAB)
  • Transitional deemed receipts/expenses calculation (BLAGAB and Non-BLAGAB)
  • I minus E computation based on BLAGAB only
  • Minimum profits test, associated comparison between I minus E and BLAGAB trade profits
  • Adjusted BLAGAB management expenses calculation including acquisition expenses spreading adjustment
  • Chargeable gains calculation including section 212 TCGA 1992 unit trust deemed gains
  • Long-term business fixed capital calculations treated on a similar basis to an investment company
  • Deferred acquisition costs tracking and adjustments
  • Flexible approach to non-linked income allowing categories of business allocation to be based on an acceptable commercial method as agreed between the company and their HMRC CRM.
  • Iterative calculations of policyholder tax
  • Updated tax provisioning and deferred tax calculations including policyholder deferred tax
  • It supports all type of life assurance business including proprietary, mutual and composite companies.

 

Data Integration

Alphalife Tax SoftwareAlphalife enables a seamless integration of tax data from multiple sources with the user-friendly integration tool. This provides an efficient automated data collection process for the tax professional which reduces resource time and minimises the risks involved. This function eliminates the need for a specialist technician to be involved with the data gathering process.

 

 

Accounting & Forecasting

Accounting MotifThe built in Tax Accounting Function within Alphalife simplifies the calculation of a company’s tax provisions and helps better manage the entire end-to-end process. It is a fully automated process which produces the tax provisions and is fully compliant under FRS 101. FRS 102 and IFRS. The software ensures that for a company’s year-end accounts, full current and deferred tax disclosures are included.

 

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