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Taxcalc 2020/21 update, strange net loss figure

Either im going crazy or taxcalc doesnt add up

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Wondered if anyone has noticed something strange with the new tax calc update for 2020/21 tax returns.

Either im not understanding something or its not working as it should, ill give an example.

Inputted figures for Self Employment.

Turnover £0

Total Exp £6533

C/A £2150

SEISS £19329

Net Profit £10646

So far so good. However along with the above figures Tax Calc have calculated a Net Loss C/Fwd of £28012.

Ive checked for any losses B/Fwd, There are none. So where is taxcalc getting this loss from when it is acurately calculating net profit??

Replies (7)

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By pauld
01st Apr 2021 09:30

0 - 6533 - 2150 - 19329 = 28012. Looks like it has added the SEISS to trading loss????

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Replying to pauld:
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By SXGuy
01st Apr 2021 09:48

Yes it appears so, SEISS is definitely in the correct box, and no minus before the figure either. In fact the Tax calculation is correct based on the information, its just this rogue net loss c/fwd figure that stands out.

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Replying to SXGuy:
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By DaveyJonesLocker
01st Apr 2021 11:03

Plus we can't edit that too, so we are going to end up with screwed tax returns.

Thanks (1)
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By DaveyJonesLocker
01st Apr 2021 11:12

It's a bug with the Short self-employed page. If you convert to Full there's no entry in the loss c/f box

Thanks (2)
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By pauld
01st Apr 2021 12:18

If you report to Taxcalc, hopefully will sort in next update.

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By Cazzie B
01st Apr 2021 12:42

Reply from TaxCalc

Thank you for your email. This issue has been raised and I have added your account details to it. For your information this is prod-5698.

Please note that HMRC filing window does not open until 6th April so cannot file now and this issue will be resolved in April release (by last week of April). Please hold off filing until then. Whilst the tax calculation is correct, there is a loss c/f in the submission.

Thank you for bringing this to our attention. Please reach out if we can further assist.

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ERrrrrrrrrr don't think my subbies will like waiting until the end of the month !!
As mentioned by Davey.... will use the full section

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Replying to Cazzie B:
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By SXGuy
01st Apr 2021 12:52

Yep. Have a client waitng on a repayment so will do the same.

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