Does IRIS Business Tax calculate indexation on capital gains?

Article ID

ias-12040

Article Name

Does IRIS Business Tax calculate indexation on capital gains?

Created Date

13th October 2015

Product

IRIS Business Tax

Problem

Does IRIS Business Tax calculate indexation on capital gains?

Resolution

Users are required to: 1. Log on to IRIS Business Tax and select the client 2. Go to Edit | Capital Assets 3. Click the Assets option then click Add. Enter in a description, date acquired and an amount paid and click on OK. 4. Click the Dispose button 5. Enter a disposal date and disposal value and click Add. The indexation will be calculated automatically. If no indexation has been calculated please ensure that the disposal date has an associated RPI value in set up | retail price index. Please Note: Entries made in the ‘Other Capital Gains’ section will not recieve indexation allowance.