Business Tax- HMRC letter Corporation tax losses and brought forward amount incorrect on the CT600
Article ID
business-tax-hmrc-letter-corporation-tax-losses-and-brought-forward-amount-incorrect-on-the-ct600
Article Name
Business Tax- HMRC letter Corporation tax losses and brought forward amount incorrect on the CT600
Created Date
6th December 2022
Product
Problem
IRIS Business Tax- HMRC letter Corporation tax losses and brought forward amount incorrect on the CT600
Resolution
If you receive a HMRC letter about Corporation tax losses and brought forward amount incorrect on the CT600
It has been reported that IRIS Business tax is currently reporting incorrect corporation tax losses on the CT600. This item is related to the following loss types:
- Box 830/835 – Non trading losses on intangible fixed assets
- Box 850/855 – Management expenses
HMRC recently issued updated guidance on completion for the 2 above fields to reflect only the loss arising in the year and not the brought forward value. We are in the process of making that adjustment to our forms (to be out on IRIS version 22.4.0 in Mid December 2022) but in the meantime the calculation is correct in its use of the losses as it always has been.
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