Error 3314 in Computation: Losses Used Against Trading Profits

This has now been resolved. Choose the client in Business Tax and regenerate the return. If you have not upgraded to either 16.1.1 or 16.2.0 then you will need to follow the steps below. Explanation: The losses utilised are being tagged twice in the iXBRL computation which is why the HMRC are rejecting the return. Resolution: 1) Go to Reports/Corporation Tax and select the ‘enhanced’ corporation tax computation. 2) Select iXBRL tick box and remove the tick from the screen box 3) You may need to click on DETAILS beside iXBRL to ensure the file is saved to your desktop 4) Once saved, go to Administration | iXBRL Editor 5) Select the Load an external IRIS file option and select the file from your desktop, then click OK 6) Once the report is loaded go straight to the Summary of Trading Losses page 7) On the right hand side of the screen, you will see two small arrows: keep pressing the one pointing to the right until it highlights the amount utilised which will be opposite Utilised S393(1) 8) Within the top right you will need to select the option ‘clear mapping’, this will remove the duplicated tag. 9) Now go to Report & Save As – override this and save it back to your desktop. 10) In Business Tax, go back to Reports and select Electronic Tax Return. 11) For the computation, change the option from Generate Now to Select External File 12) Browse to the iXBRL file saved on your desktop instead. This will allow the return to be filed successfully. If you require further assistance, please do not hesitate to contact us at support@iris.co.uk