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PTP TRU - Transferring losses to a beneficiary

Article ID
kba-03793
Article Name
PTP TRU - Transferring losses to a beneficiary
Created Date
4th August 2021
Product
Problem
When completing box 5.22 on page TC1 of the Capital Gains pages, the program correctly identifies that losses b/fwd will now be used against the gains in the year and populates box 5.12 automatically (up to the AEA). However, it does not then consider the amount at 5.12 and apply the same in box 5.25, and consequently does not reduce the c/fwd loss amount accordingly in box 5.26. Please note that box 5.12 is only visible on the printed return, not onscreen.
Resolution

The proposed workaround is to edit the b/fwd loss value by the amount utilised in the year so that the correct c/fwd is reported and then add a note in the white space (box 5.42) to explain that due to a software error with box 5.25, the b/fwd amount in box 5.24 already reflects the use of b/fwd losses reported in box 5.12 in order to achieve the correct c/fwd loss amount.  This issue will be corrected in the Autumn release.

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