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PTP TP - Clogged Losses

Article ID
kba-03179
Article Name
PTP TP - Clogged Losses
Created Date
13th March 2013
Product
Problem

Does PTP Tax Platform deal with clogged losses?

Resolution

The Tax Platform software does not deal with clogged losses and there is no facility on the Capital Gains section to make these entries. Please see possible workaround below for consideration. Please note an external CGT computation would need to be created and attached.

In the Capital Gains pages select the Access to Details tab, tick the Manual Entry box, enter values for Disposal Proceeds and Net Gain/(Allowable Loss). 

The loss will be shown in box 6. However box 32 will show an incorrect allowable cost. Please make a note in the additional information box 38 to explain the entries due to a software restriction.  

A separate capital gains computation will need to be provided to show the breakdown.

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