For example, I only needed to use £3,953 of the £6,774 loss b/fwd to bring my clients taxable income under the personal allowance, but the software used the full £6,774. This means he is losing out on future loss tax relief. The only way to get around it is to amend the figure to £3,953 and to make a note in our clients folder to remember to use the additional £2,821 next year. Information like this can easy get missed so it would be good for the software to allow us to adjust and pull through onto next years tax return
Gemma Walshaw
Thank you Gemma,
Understanding that we may not have all the finer details here, but based on what information we do have. The software / UI isn't easily allowing for this accommodation, as "...Partial claims are not permitted...".
https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim85080
As such, we would not be updating the software to retain partial claim values to use in future years.
If there's details we are missing here or if you wish to discuss further I can escalate to our compliance team for further questioning. Feel free to reach out direct to me via steven.cartlidge@sage.com
Regards,
Steve Cartlidge
Hi Steve. Yes this is regarding self employment.
Can we confirm first this is regarding a self-employment please, if not any additional information would be brilliant thank you.
For example, I only needed to use £3,953 of the £6,774 loss b/fwd to bring my clients taxable income under the personal allowance, but the software used the full £6,774. This means he is losing out on future loss tax relief. The only way to get around it is to amend the figure to £3,953 and to make a note in our clients folder to remember to use the additional £2,821 next year. Information like this can easy get missed so it would be good for the software to allow us to adjust and pull through onto next years tax return