Personal Tax- Period Reform: Profit or Loss of the transitional part[FSE73.1] is present so [SA103F Overlap relief not previously deducted on a change of accounting date] should be absent
Article ID
personal-tax-period-reform-profit-or-loss-of-the-transitional-partfse73-1-is-present-so-sa103f-overlap-relief-not-previously-deducted-on-a-change-of-accounting-date-should-be-absent
Article Name
Personal Tax- Period Reform: Profit or Loss of the transitional part[FSE73.1] is present so [SA103F Overlap relief not previously deducted on a change of accounting date] should be absent
Created Date
26th November 2024
Product
Problem
IRIS Personal Tax- Period reform: Profit or Loss of the transitional part[FSE73.1] is present so [SA103F Overlap relief not previously deducted on a change of accounting date] should be absent
Resolution
When generating the electronic tax return the validation below appears:-
Profit or Loss of the transitional part
[FSE73.1] is present so [SA103F Overlap relief not previously deducted on a change of accounting date] should be absent.
This is a DEFECT which is due to be fixed in IRIS Version 25.1.0 which will be released in April 2025.
Workaround: To edit the overlap relief in the transitional period profit screen to zero. This will produce the correct output on the tax return and the submission XML file. However, the self-employment profit will be changed on the tax computation and schedules of data. This does mean that the files will need to be saved externally before the changes are made. The trade computation will not be affected.
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