Personal Tax- Period Reform 2024: Trade loss used/carry back is showing as being carried forward (box 79/80)
Article ID
personal-tax-period-reform-2024-trade-loss-carry-back-is-showing-as-being-carried-forward-instead
Article Name
Personal Tax- Period Reform 2024: Trade loss used/carry back is showing as being carried forward (box 79/80)
Created Date
2nd September 2024
Product
Problem
IRIS Personal Tax- Period Reform 2024: Trade loss being used OR carry back is showing as being carried forward instead SEF4 box 79 and 80
Resolution
The Trade comp, Schedules of data and SA100 is currently showing incorrect loss being carried forward being used in the current year (against Other income) OR to next year (rather then a loss being carried back to prior year). For example you have a sole trade loss in 2024 and you have entered some values to be carried back but when you check the SA100 SEF4 page box 79 carry back is blank OR you have loss being used in the current year, However it also shows a loss amount being carried forward in box 80.
This has been confirmed as a DEFECT within the software IRIS Version 24.2.0/24.3.0 and is fixed with the upcoming IRIS December 2024 Service Pack (Date TBC).
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