PTP TR - How to carry back losses for self-employment
Article ID
kba-02880
Article Name
PTP TR - How to carry back losses for self-employment
Created Date
20th July 2011
Product
Problem
How to deal with loss carry back for a self-employment
Resolution
1) Log on to PTP Tax Platform and select the client.
2) Select the Client Tax Returns tab highlight the tax year and select View Tax Return.
3) Select the Fanned Pages icon within the Self Employment section.
4) Click on the name of the business which made the loss then click View.
5) Select the tab for Adjustments, Losses, Overlap and Tax.
6) Click the Losses button, enter the amount ‘To carry back‘ and click OK.
7) Click the Cross icon within the top right corner to proceed, click Close on the Self Employment screen then click the Cross to close the Tax Return.
8) Click Calculation then enter the amount of tax the client can reclaim as a result of the carry back within the Tax overpaid for earlier years box. This will populate box 15 on page TC2.
9) Enter an explanatory note within box 17 in page TC2 to clarify which tax year the loss is being carried back into.
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