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Personal Tax- Period Reform 2024: Trade loss carry back is showing as being carried forward instead

Article ID

personal-tax-period-reform-2024-trade-loss-carry-back-is-showing-as-being-carried-forward-instead

Article Name

Personal Tax- Period Reform 2024: Trade loss carry back is showing as being carried forward instead

Created Date

2nd September 2024

Product

Problem

IRIS Personal Tax- Period Reform 2024: Trade loss carry back is showing as being carried forward instead SEF4 box 79 and 80

Resolution

The Trade comp, Schedules of data and SA100 is currently showing incorrect loss being carried forward to next year (rather then a loss being carried back to prior year). For example you have a sole trade loss in 2024 and you have entered some values to be carried back but when you check the SA100 SEF4 page box 79 carry back is blank and it shows a loss amount being carried forward in box 80.

This has been confirmed as a DEFECT within the software IRIS Version 24.2.0. Our Development team is investigating this and we are awaiting news of a fix and we will update this KB.

We apologise for the inconvenience caused.

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