Business Tax- R&D RDEC Corporation Tax Repayable by Notional Brought Forward figure: Incorrect?
Article ID
business-tax-rdec-corporation-tax-repayable-by-notional-brought-forward-figure-incorrect
Article Name
Business Tax- R&D RDEC Corporation Tax Repayable by Notional Brought Forward figure: Incorrect?
Created Date
7th March 2025
Product
Problem
IRIS Business Tax- R&D RDEC Corporation Tax Repayable by Notional Brought Forward figure- Incorrect?
Resolution
R&D RDEC – You have entered Expenditure and have a ‘Notional Brought Forward’ figure or this was manually entered and you believe the a RDEC Corporation Tax Repayable value on the Tax Computation is Incorrect?
For example: You have a client which has a RDEC Claim with Data Entry | RDEC – and Notional Tax B/Forward value £20,000
On the Tax Computation Corporation tax summary page it shows repayment of £75,000. The last page is showing a different repayment of £95,000. You were expecting the figure to be £95,000 on the summary page? The difference is the ‘Brought Forward’ value.
This is by design: The Corporation Tax summary report is designed as per HMRC requirements starting with the Gross tax credit and taking into account CT liability arising and adjustment relating to Notional tax b/fwd and utilised. The CT600 Box 880 will show the claim to repayment being made of £95,000 (using the last page) and not use £75,000.
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