PTP TR - Losses brought forward do not appear to have been deducted in the Tax Calculation Summary

Article ID

kba-03547

Article Name

Created Date

28th December 2016

Product

Problem

Losses brought forward do not appear to have been deducted in the Tax Calculation Summary

Resolution

Previously in the calculation, losses b/f were automatically offset against the profit and only the net profit would show on the computation.

In the year 2015-16 HMRC requested the computation be changed so that the gross profit now shows on the computation and any losses that have been brought forward and utilised this year will show separately under a heading of Income Tax Relief in the Deductions section.

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