Residential finance cost, restriction not being calculated for 2019/20.
Article ID
ias-12965
Article Name
Residential finance cost, restriction not being calculated for 2019/20.
Created Date
20th June 2019
Product
IRIS Personal Tax
Problem
Residential finance costs restriction not being calculated for 2019/20 in Personal Tax
Resolution
This is due to be fixed in version 19.2.0 of IRIS which is scheduled in July 2019.
As a work around, could you please do the following: –
• Go to Income Tab | UK Land and Property | UK Property Income | Expenses Tab
• Select Type 17 Finance Charges
• Tick the box ‘override’ – manually amend the figure
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