Business Tax- Group Consortium: cannot see and claim a loss. 'Brought forward trading loss relief cannot exceed £0'

Article ID

business-tax-group-consortium-this-client-cannot-claim-any-amount-under-group-relief-provisions

Article Name

Created Date

12th July 2022

Product

Problem

IRIS Business Tax- Group Consortium: cannot see and claim a loss from a loss making company or you get this 'Brought forward trading loss relief cannot exceed £0'

Resolution

You have a loss making making company and want to transfer loss to another company with a gain.

You are now on the company with the gain in BT and trying to transfer the loss to it but you get the error ‘This client cannot claim any amount under group relief provisions’ OR the loss value doesn’t appear OR you get error ‘Brought forward trading loss relief cannot exceed £0’.

1.Double check the loss making company – run a tax comp to ensure it has a loss in Period or Loss Brought forward

2.Double check the profit making company – run a tax comp to ensure its profit making

a. Load the loss making company
b. Edit losses
c. CTAP edit
d. Click on the very top left cell
e. Use the Tab key and along all the way around to you go back to where you started
f. Update totals and close
g. Now load the profit making company and go back to groups/consort and check that the loss value now shows which you can now claim.

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