Rate restricted relief showing eventhough commercial property is ticked
Article ID
ias-12794
Article Name
Rate restricted relief showing eventhough commercial property is ticked
Created Date
14th May 2018
Product
IRIS Personal Tax
Problem
Rate restricted relief for finance costs showing on the computation eventhough commercial property is ticked in the UK land and property section.
Resolution
User needs to go back into the loan interest or finance costs expense and let the software re-calculate the deduction. Please do the following:
Income | Land & Property | UK property income | Highlight the property | expenses | double-click on the expense | Press ‘OK’ | Re-run the tax computation – the relief should no longer be showing.
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