Sa105 annual investment allowance must not be present if PRO20.2 is absent

Article ID

ias-12835

Article Name

Created Date

18th June 2018

Product

IRIS Personal Tax

Problem

When generating a tax return within in Personal tax and you receive the following message: Sa105 annual investment allowance must not be present if PRO20.2 is absent. The total instance is offset Sa105: Furnished holiday Lettings - income, Sa105 Balancing Charges. Where Sa105 in EEA is absent in that instance the total of all SA105 total rent and other income from property, Sa105 premium grant of the relief, SA105 receive premium, Sa105 Balancing Charges must not exceed 150,000 if PRO22.2 is absent.

Resolution

To solve your query please do the following in Personal Tax: – UK Land and Property – UK Property Income – Edit (in the middle of the screen) – Tick the box “Property profits have been calculated using traditional accounting rather than cash basis”

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