Loss carried into the Next CP

Article ID

kas-0013

Article Name

Loss carried into the Next CP

Created Date

5th January 2021

Product

IRIS Keytime Corporation Tax, IRIS Keytime

Problem

Loss carried into the Next CP

Resolution

To transfer the loss from chargeable period 1 to chargeable period 2 you will need to do the following:

• Go into the chargeable period 1 and go into the Trading and Professional Profit RDE and click Finish. 

• Still in chargeable period 1 go into the Losses, deficits, and excess amount RDE and click Next CP and Finish. 

• Then go into the chargeable period 2 and go into Trading & Professional profits RDE and click Finish.

• Still in chargeable period 2 go into the Losses, deficits, and excess amount RDE, this will then show the correct loss from the previous chargeable period