IAS-93002: Boxes 530 and BOX 875 missing R&D credit figures since updating to version 21.1.0.

boxes-530-and-box-875-missing-rd-credit-figures-since-updating-to-version-21-1-0

IAS-93002: Boxes 530 and BOX 875 missing R&D credit figures since updating to version 21.1.0.

16th April 2021

IRIS Business Tax

Boxes 530 and BOX 875 missing R&D credit figures since updating to version 21.1

This was a DEFECT in the software Version 21.1.0.
This issue has now been fixed via Hotfix.

IRIS Business Tax – Hotfix (v21.1.3.1(a))

R&D SME Tax credit – Box 875 is not being populated on the CT600
Box 875 is not being populated on the CT600 where a R&D SME tax credit has been entered within IRIS Business Tax.

A hotfix is now available which needs to be applied to the 2021 Spring Release (v21.1.0).
To download the hotfix, click here.

Note: Please ensure that all users are logged out of Business Tax before installing v21.1.3.1(a).
This hotfix must be applied to the Central and LPO installations.

Note: All hotfixes MUST be applied separately.

If you are claiming both R&D SME Tax Credits and RDEC claims – this is still is a DEFECT and will be fixed in the service pack, which is due to be released week commencing 17th May 2021.

The below relates to this defect:

The way that we calculate box 530 has now changed. The HMRC have advised that they have updated their guidance to reflect this. Please click on the link below for more guidance: –

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/968861/CT600_Version_3_guide_21_final_April.pdf

Under the new guidance we are correctly not populating box 530 as the value in 530 must be equal to the value L210 from the CT600L supplement.

However, we should be completing box 875. We have identified this issue and this is on our known issues page. Please click on the link below for the know issue page: – https://www.iris.co.uk/support/iris-accountancy-suite-support/important-known-issues/