Knowledge Base
personal-tax-period-reform-2024-farmers-averaging-combining-two-periods-incorrectly
Personal Tax- Period Reform 2024: Farmers Averaging combining two periods incorrectly
The Farmers Averaging under the Period Reform 2024 is incorrectly combining the total figures for two accounting periods in the…
personal-tax-period-reform-2024-schedules-of-data-is-showing-incorrect-totals-compared-to-trade-comp-etc
Personal Tax- Period Reform 2024: Schedules of Data is showing incorrect Totals
There are TWO different defects in PT affecting the Schedules of Data and the Tax comp and SA100 are correct:…
personal-tax-use-income-loss-against-capital-gain-cg3-box-46
Personal Tax- Use income loss against capital gain (CG3 box 46)
This is for a trade loss etc against a Capital gain. If a Sole trade loss Run the Trade comp…
personal-business-tax-shareholdings-how-to-add-decimal-entries
Personal/Business Tax- Shareholdings, how to add decimal entries?
IRIS PT and BT may block shareholding values with decimal entries with a warning (for Example share entry of 1.11).…
personal-tax-capital-disposal-with-private-resident-relief-ppr-missing-from-tax-comp-how-to-restrict-loss
Personal Tax- Capital Disposal with Private resident relief (PPR) missing from Tax comp, how to restrict loss?
HMRC Restriction – In Personal Tax you cannot claim any type of relief against a capital loss (For example: The…
personal-tax-period-reform-2024-partnership-income-has-incorrect-adjustment-apportionment
Personal Tax- Period Reform 2024: Partnership income has incorrect adjustment/apportionment
The system is currently time apportioning (for a longer/extended period) for Partnership income (for example UK interest and Property income)…
fixed-asset-register-is-not-depreciating-correctly
Fixed Asset Register is not depreciating correctly
IRIS Fixed Asset Register is calculating the depreciation on the Cost figure instead of the net book value. Please read…
personal-tax-period-reform-2024-transitional-profits-are-calculated-when-income-is-under-personal-allowance
Personal Tax- Period Reform 2024: Transitional profits are calculated when income is under Personal Allowance
The total profit for the extended period is Calculating a tax liability on the transitional part of the profits, even…
personal-tax-share-of-partnership-trading-profits-sa104s-is-greater-then-zero-etc
Personal Tax- Share of Partnership Trading/profits, SA104S is greater then zero OR is negative etc OR 3001 8223
If you have a Partnership entry for the period and get the error: Load the client in PT and relevant…
personal-tax-basis-period-reform-2024-how-to-make-an-election-to-bring-in-all-of-the-profits-to-the-current-tax-year-and-not-spread-the-tax-over-5-years
Personal Tax- Period Reform 2024: Make election to bring in all profits to current tax year and not spread tax over 5 years + OPT OUT
Please do the following to resolve your issue: - Go to Personal Tax and load the client Income Tab |…
