Enter Roll Over Relief

Article ID

ias-11681

Article Name

Enter Roll Over Relief

Created Date

19th June 2014

Product

IRIS Personal Tax

Problem

To claim this relief, a disposal must first be entered on the Shareholding entered within the Capital Assets area. It is also possible to claim this relief within Other Capital Gains once all details have been entered.

Resolution

To claim through the shareholding, go to: 1) Income Menu – Dividends – Capital Assets 2) Set up the shareholding 3) Then select Operative Events and select Add to enter a Disposal 4) Once the disposal details have been entered tick to Claim Relief and choose type 1. Note: the software does not calculate the relief, the user is expected to make a manual entry here. To claim through another Capital Gain, go to: 1) Other Capital Gains instead of Shareholding 2) Enter the gain details and then tick to Claim Relief 3) Choose type 1 to claim Roll Over relief and enter details of the relief. If your question is in regards to a Limited Company then you would go to Edit/Capital Assets and add the asset and then tick to claim relief and enter the description and amount.