Business Tax- LLP/Partnership, land and property: 'The amount in box N1.19 must equal the box in 1.39'

business-tax-llp-partnership-land-and-property-the-amount-in-box-n1-19-must-equal-the-box-in-1-39

Business Tax- LLP/Partnership, land and property: 'The amount in box N1.19 must equal the box in 1.39'

31st January 2025

IRIS Business Tax- LLP/Partnership, land and property - the amount in box N1.19 must equal the box in 1.39

You have a LLP/Partnership with land and property income but you get error ‘The amount in box N1.19 must equal the box in 1.39’. This is can mean a issue in your entries, here are several methods to resolve it:

1. Load the client in BT and relevant period. Client and View – change the business type to ‘Partnership’ instead of ‘LLP’ and change the sub-type to ‘Rental Income’, regenerate and submit

2. Check under ‘Other property income’ and if there are NO finance charges.
• Go to the folders located along the left side of the screen
• Miscellaneous Information Page 1 and 2
• Land and Property
• Tick ‘Use Computed’ for trading income
• Then regenerate and submit

3. Land and property- Expenses- remove the manual entries for finance costs. Regenerate and submit

4. If the LLP has finance charges and you have overridden the auto calc: User has entered Finance charges, and then manually overridden the values in the Allowable deduction/ Excess Finance Costs fields. In the ‘2020’ tax year non FHL properties are only eligible for a 25% allowable deduction.
https://www.gov.uk/guidance/changes-to-tax-relief-for-residential-landlords-how-its-worked-out-including-case-studies
Unless the property is FHL it will only be eligible for 25% of the finance charge as an allowable deduction in the year”. So therefore, please do the following to resolve your issue: –

• Go to Land and Property
• Other property income
• Tick box next to finance charge and allow the BT to auto split to occur 25%/75%
• Then regenerate the Electronic Partnership Return.