Personal Tax- 2024/25 Farmers Averaging incorrect/missing

personal-tax-2024-25-farmers-averaging-incorrect-missing

Personal Tax- 2024/25 Farmers Averaging incorrect/missing

12th June 2025

IRIS Personal Tax- 2025 Farmers Averaging incorrect/missing 25.1.4.42

Personal Tax may provide incorrect or missing figures for Farmers Averaging in 2024 and 2025 on the IRIS version 25.1.4.42.

The IRIS Development team has confirmed this is a legislation change and is applied onto IRIS Personal Tax. So follow the fixes listed below for Sole trades and Partnerships. Personal Tax will not automatically apply these and these must be run manually per client.

Fix 1– If the client is a ‘Sole trader, you must tick the box under ‘trade pro vocation-business details’- ‘The business used traditional accounting rather than cash basis’, then refresh the client, go back into the farmers averaging screen and it will calculate values. If its a ‘Partnership’, tick the same box under the business details tab in Business tax then refresh it into PT and it will calculate. The calculation will not work without ticking these boxes.

Fix 2– If the above has not fixed the issue, please can you add the next accounting period (e.g 31/3/2026) and then recheck the averaging screen which it may populate correctly.

Fix 3- If the above fixes do not work and the Farmers Averaging is still incorrect/missing then please update to IRIS version 25.2.0.

If the data is still incorrect after 25.2.0 then follow the steps below for a workaround:

1. Select the PT client
2. Click on Trade Profession Vocation | Sole trade Partnership
3. Double click on the accounting period
4. Remove the tick from Farmers Averaging
5. Close the accounting period
6. Run a tax computation
7. Go to Trade Profession Vocation | Sole trade Partnership
8. Select the accounting period
9. Enter the details back in for Farmers Averaging and check the calculation