Business Tax- Total of loans repaid, released, written off is higher then total of loans made during period
Article ID
business-tax-total-of-loans-repaid-released-written-off-is-higher-then-total-of-loans-made-during-period
Article Name
Business Tax- Total of loans repaid, released, written off is higher then total of loans made during period
Created Date
15th June 2023
Product
Problem
IRIS Business Tax- CT600A Total of loans repaid, released, written off is higher then total of loans made during period OR must be after the period end date
Resolution
This also applies if you are trying to repay a loan brought forward but when you enter any date of repayment it shows: ‘The date of repayment must be after the period end date’
1.Load the company and relevant period
2. Go to Data Entry | Loans to Participators
3. Override the values to zero value or to the new remaining value. (If its a B/forward value then reduce it manually)
4. Go to Data Entry | Summary – tick ‘For earlier period’ within the Repayment Claim section edit notes and explain why you removed/reduced the figures
5. If you need the CT600A form to appear as well- Data Entry and Summary – on right side tick the YES button for the CT600A. The notes you made on step 5 will show on the Tax Comp and not on the CT600A.
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