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Home | Knowledge Base Articles | Personal Tax- Period Reform 2024: Partnership income has incorrect adjustment/apportionment

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Personal Tax- Period Reform 2024: Partnership income has incorrect adjustment/apportionment

Article ID

personal-tax-period-reform-2024-partnership-income-has-incorrect-adjustment-apportionment

Article Name

Personal Tax- Period Reform 2024: Partnership income has incorrect adjustment/apportionment

Created Date

25th July 2024

Product

Problem

IRIS Personal Tax- Period Reform 2024: Partnership UK savings interest has incorrect adjustment/apportionment

Resolution

The system is currently time apportioning (for a longer/extended period) for Partnership income (for example UK interest and Property income) and only taxing by a period of days (eg 365 days) which is incorrect.

This has been confirmed as a DEFECT within the software IRIS Version 24.1.9.2/24.2.0. This is planned to be fixed on the Autumn update 24.3.0 week commencing 30th Sept 2024.

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