Business Tax – Validation loss carry forward/back: value cannot be greater than zero OR cannot exceed 0.00

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Business Tax – Validation loss carry forward/back: value cannot be greater than zero OR cannot exceed 0.00

14th September 2017

If a company has been ceased for trading and when going into Edit, Losses and entering an amount in less loss carried back a validation will appear: loss carry cannot exceed 0.00

You get ‘the value cannot be greater than zero’ OR “cannot exceed £0.00” OR Unavailable to carry forwards cannot exceed £0.00 (or similar warning which states a value). It can be caused by a ‘ceased date’ which causes this, this date entry ‘locks in losses’ which is why you cannot make the claims below.

1. Loss carry back claim
2. Losses use against profit/gains/non trade
3. Loss carry forward

To resolve this please do the following in Business Tax:

Load BT Client – Click on View – Remove ceased date – Click on Save and then Close – Click on Edit – Click on Losses – Remove the amounts in TWO boxes ‘less loss carried back’ ‘and ‘less unavailable to carry forward’ – Click on Apply and then OK – Click on Client – Click on View – Enter Ceased date – Click on Save and then Close –

Click on Edit – Click on Losses – Re-enter the amount in less loss carried back OR a loss edit claim where needed- click on Apply and then OK – data entry – summary – tick for earlier period – Edit – Notes