First problem I see is the 40ppm nitrates.... this is way too high for corals. For a reef tank, depending on the corals, you are aiming to keep your nitrates as close to 0 as possible, ideally less than 1. Some corals thrive with some nitrates present, but we're talking maybe up to 5ppm.
With an 8 hour light cycle and 0.25 phosphates, I'm kinda surprised you don't have some serious algae issues. Again, the goal is to keep the phosphates as close to 0 as possible, with 0.04 being my maximum.