Personal Tax- Capital Disposal with Private resident relief (PPR) missing from Tax comp, how to restrict loss?
Article ID
personal-tax-capital-disposal-with-private-resident-relief-ppr-missing-from-tax-comp-how-to-restrict-loss
Article Name
Personal Tax- Capital Disposal with Private resident relief (PPR) missing from Tax comp, how to restrict loss?
Created Date
1st August 2024
Product
Problem
IRIS Personal Tax- Capital Disposal with Private resident relief (PPR) missing from Tax comp and how to restrict loss?
Resolution
HMRC Restriction – In Personal Tax, you cannot claim any type of relief against a capital loss (For example: The PPR relief will not be applied on the CG comp and the Tax comp).
On the CG comp it will show as NIL and omit the values.
How do I then restrict/edit the CG loss? You will need to manually adjust the disposal amount to obtain the correct loss figure. Then make a note to explain this edit that this is covered by Principal Private Residence in Box 37 on page CG 2 of the Tax return. To make this note, go to the Capital Assets main window | Edit | Losses & Other Information | Tick the Additional Information box and make the note here.
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