Loss carry back in Taxfiler

Loss carry back in Taxfiler

Didn't find your answer?

Previously I've attached my own manual CT computations with losses memo to HMRC's CT600 software and ticked the 'repayment due for earlier period' box - pretty standard stuff.  Avoids the need to revise the previous year's CT600.

But seems Taxfiler can't do a losses record and I certainly don't want to report unused trading losses to carry forward' in my Taxfiler computation; there won't be any losses carried forward.  I've hunted high and low in the data input and help sections.  Seriously, am I going to have to type up a decent manual computation and loss memo?  Must be obvious, but what am I missing?

Replies (3)

Please login or register to join the discussion.

Taxfiler
By Taxfiler
28th Jan 2015 18:20

Loss carry back

Are you saying you want to carry back the trading loss?

In the section "Trading Profits" there is a "Trading Losses Summary" on the first tab where you can enter the trading losses to carry back.

You can then tick the box for "repayment due for earlier period" in the company information section.

Apologies if I've misunderstood what you are trying to do.

Thanks (1)
By ShirleyM
28th Jan 2015 18:22

I haven't done a carry back for losses in Taxfiler

There is a box on the summary where you can enter losses to carry back.

As far as I can remember, the last time I carried back losses I did a new tax comp for the back year and attached it to the tax return.

Thanks (1)
By JimH
28th Jan 2015 20:07

Woo hoo
Cheers, Taxfiler. Thought it had to be somewhere and very pleased to get the answer so quickly. It's a recurring issue that it's not always intuitive to find the data entry point for first time implementation in the software. But I do like that many times the data entry can be accessed from the actual return itself.

@Shirley, much appreciated. I understand that's a standard way - resubmitting the original comp. I think it can be skipped if the repayment for earlier year box is ticked with the current year comp showing carry back. I'll be happy to be corrected, but think I've got away with it previously. Anyone else?

Thanks (0)