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Validation message in loss of year set against other income SA103

Article ID
ias-10609
Article Name
Validation message in loss of year set against other income SA103
Created Date
3rd September 2012
Product
IRIS Personal Tax
Problem
When printing the clients Electronic Tax return the following validation error is generated: "The amount in box [SA103F:Loss of year set against other income] exceeds the amount in box [SA103F:Adjusted loss for the year]. Please check".
Resolution
This message indicates that a business loss is being used against other income where no loss is occurring within the tax year. Please note brought forward losses can only be used against income from the same business in the future. This can be resolved as follows: 1. Log on to IRIS Personal Tax and select the client. 2. Click on the Trade Profession or Vocation folder, click Sole Trade or Partnership. 3. Double click on the relevant account period which is shown in the bottom half of the screen. 4. For Sole Trades click on the Adjustments Losses Overlap and Tax tab and remove the figure from Offset against other income. For Partnerships click on the Trading Income tab and remove the figure from the Loss offset against other income box.

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