IRIS - Personal Tax - 2013/14 - Page UKP2

IRIS - Personal Tax - 2013/14 - Page UKP2

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The IRIS knowledgebase seems to be unworkable and I haven't got time to search the 250 pages item by item so I'm posting here.

A very straightforward 2013/14 Tax Return -

Taxpayer has a UK property and the screen version of UKP2 shows: b/f loss of £16,772 (UKP2 Box 39), net income of £4,134 (UKP2 Box 38) and c/f loss of £12,638 (UKP2 Box 43).   UKP2 Box 40 is not blank but shows a 0.

The electronic version refuses to validate and gives the error message:

"The amount in box [SA105:Taxable Profit For The Year] must equal([SA105:Adjusted Profit For The Year] minus [SA105:Loss Brought Forward]).  Please check."

Is the'0' in UKP2 Box 40 the problem ? Any suggestions please on how to achieve successful validation ? 

Replies (15)

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Euan's picture
By Euan MacLennan
15th Oct 2014 12:07

Call IRIS Support

... on 0844 815 5551.

I would tell you the current wait time on Personal Tax, but we have just installed v11.6 and I cannot get beyond the New Features screen!

The only KB article I could find was this one from 2008 - does that help?

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James Reeves
By James Reeves
15th Oct 2014 12:25

Box 39 should contain the b/fwd losses actually used, not the total brought forward loss available (i.e. it should never be more than box 38).  I don't know IRIS but can you amend the figure in box 39 or is it computed?

You should really be looking for:

box 38 = 4134

box 39 = 4134

box 43 = 12638

I don't think it matters whether box 40 is zero or blank (Taxfiler leaves it blank).

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By Paul Hawes
15th Oct 2014 12:25

Box 38A?

Box 38 = £4134

Box 38a = £16772

Box 39 = £4134

Box 40 = £0

Box 43 = £12638

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n/a
By Trish Baillie
15th Oct 2014 12:28

We are running IRIS 11.5.1 and I have a similar case but I have no entry in Box 40 on UKP2.  May I suggest that if you have pence in any of your figures you remove those so that all your entries are in whole pounds and then try again.  Sometimes pence confuses IRIS.

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n/a
By Trish Baillie
15th Oct 2014 12:31

My figures read as follows:-

Box 38 - £1,437

Box 39 - £2,281

Box 40 - no entry

Box 43 - £844

 

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Replying to alanpoole:
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By Paul Hawes
15th Oct 2014 12:39

Losses more than profit

Trish the way you are doing it means more losses are being used against profits than profits available which isn't possible.

Box 38 is your net profit

Box 39 is NOT losses brought forward - it is the amount of losses used against your profits. Box 38a is used as a place to put your brought forward figure for calculations.

Your thing is exactly same as OP

Box 38 - £1437

Box 39 - £1437

Box 40 - £844

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n/a
By Trish Baillie
15th Oct 2014 12:56

Paul - that is the way that IRIS shows it automatically - I don't have a Box 38a on my page UKP2.  I have just checked on the HMRC website and their copy of the UK Property pages doesn't feature a Box38a either.  I confess that your comment panicked me slightly so I had to double check.

When I look back at previous years for this client, the UKP2 entries have all been similar, albeit that she will in all likelihood use the balance of the losses brought forward in the current tax year.  I have checked other clients who have rental properties that run at a loss and the entry in Box 38 is always the full amount of the losses brought forward.  

My return has been successfully submitted to HMRC.  

 

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By Paul Hawes
15th Oct 2014 13:11

Weird

That's not how I learnt to do box 39 but after reviewing hmrc notes they do say use the full losses figure brought forward so you are right!

In that case I don't know what the problem is with OP other than the fact that box 40 shows a 0 instead of being blank.

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n/a
By Trish Baillie
15th Oct 2014 13:58

As I said earlier, IRIS fills in the boxes automatically and I have never really questioned it.  The only thing I can think of is that the OP has pence in his figures which might mean that although the entries on the page (in whole pounds) look correct, 'behind the scenes' there are pence which means that there is rounding going on and that may well upset IRIS.

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By halblackburn
15th Oct 2014 14:46

IRIS 11.6.0 and UK Property losses and UKP2 Box 40

Thanks for your prompt replies.

The bad news is I am running IRIS 11.6.0.

TRISH - I had already tweaked the income and expenses data to remove pence in order to get the correct figure for 'c/f loss' on the screen TR, but that's a different IRIS bug.

The problem seems to be the single character 0 in Box 40.

I have rerun a Tax Return (already filed with HMRC) which declared a property loss for 2013/14 (no loss b/f).  The original TR under 11.5 had a blank Box 40, validated ok and was accepted by the HMRC gateway.  The 11.6.0 version has a 0 in Box 40 and does not validate.

Conclusion - don't upgrade to 11.6.0 and roll-on 11.6.1 !

 

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By User deleted
15th Oct 2014 15:58

@ Euan

0.00 apparently, for all options!

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By Gordon Cr
20th Oct 2014 16:05

Iris 11.6.0 and property losses

I have just returned from holiday this morning to find this huge issue with Personal tax. They do have a work round - fiddle the answer so that there are no losses to carry forward and fill in what you have done in the white additional information box. The fix will not be out for a month according to the support people. They also suggest that you rerun the returns when the fix comes out. Who has time to do that.

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n/a
By Trish Baillie
20th Oct 2014 16:11

@Gordon Cr - I think I am grateful we have not yet updated to IRIS 11.6.0!

 

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By petersaxton
20th Oct 2014 16:16

Rerun the returns

I think it's imperative that you do that otherwise you may have problems next year.

I know it's a nuisance. I'd try to avoid doing personal tax returns with property until they fix it.

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Replying to Kylo Ren:
Euan's picture
By Euan MacLennan
20th Oct 2014 17:00

November update

petersaxton wrote:

I know it's a nuisance. I'd try to avoid doing personal tax returns with property until they fix it.

Agreed.  When we hit the problem, IRIS told us that it would be fixed in the November update - presumably, the 11.6.1 service pack - so we are waiting until then before filing any IT returns with property losses brought forward.

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