IRIS unit trust acquisition date issue?

The acquisition date for a unit trust is stating a date that i did not input and cannot change.

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Hi All,

Pardon my etiquette as this is my first question asked on this website in regards to accoouting and tax, but i digress. 

I am running into an issue with a client on IRIS where i am inputting an "other capital gain".

The capital gain arises from a unit trust on a broker's schedule. Due to this, i have ticked the relevant box stating that the asset is off a "Broker's Schedule". 

This meant that the date of acquisition box has now been greyed out and i don't seem to have to input this in anymore. I have inputted the date the gain arose and other details which seem correct. However, when i generate the capital gain computation, IRIS seems to generate an acquired date (which is in 1993 and i never input) automatically. I have tried to change this using a multitude of ways or just making it so IRIS doesn’t have any date at all for the acquisition date. I have also tried to untick the "Broker's Schedule" box, inputting the right date and then generating the CGT comp before proceeding to rechanging the details to be correct, again to no avail. 

I just have no idea on how to change or remove where it says "Acquired on XX/X/93" (the x's are obviously a specific date i do not want to state for data protection purposes). 

If someone can help me out, it would be much appreciated


- Ash

Replies (6)

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By alan.rolfe
03rd Sep 2019 11:51

Iris often states 16 March 1998, being a date relevant to something in the CG legislation (can't quickly recall - taper relief???), but that date no longer seems important.
Is it this date you have?

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Replying to alan.rolfe:
By ARRahman
03rd Sep 2019 12:29

Yes, that would be correct. The date that IRIS has is 16/03/1998. Would you happen to know how to have it removed or changed?

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By Tim Vane
03rd Sep 2019 12:15

Beats me why you would pay their fees and not make use of your support contract.

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Replying to Tim Vane:
By ARRahman
03rd Sep 2019 12:34

I have been through our IT solutions technicians and IRIS. However, i am currently awaiting a response from IRIS. I thought this if i could get a quicker response from here it would be better as the client wants the return to sign ASAP due to some circumstances and i know that the client is also extremely OCD about these things.

Furthermore, me getting an answer here might mean that in the future people who also come across this can get help too.

Either way, once i have the answer i will try to update this question accordingly so other people can benefit too.

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By Vaughan Blake1
03rd Sep 2019 12:36

Have you tried deleting the entire entry and starting again?

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Replying to Vaughan Blake1:
By ARRahman
03rd Sep 2019 14:04

Yes. I have tried doing this in the most simplest of ways and also tried by making it not a brokers schedule so i can input the date before converting it back into one.

So far, none of my methods have worked.

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