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Personal Tax: SA105 adjusted profit for the period must equal the sum of sa105 PRO11.1 furnished holiday lettings etc

Article ID
personal-tax-sa105-adjusted-profit-for-the-period-must-equal-the-sum-of-sa105-pro11-1-furnished-holiday-lettings-etc
Article Name
Personal Tax: SA105 adjusted profit for the period must equal the sum of sa105 PRO11.1 furnished holiday lettings etc
Created Date
16th July 2021
Product
Problem
Iris Personal Tax: When you generate an SA100 but you get this validation SA105 adjusted profit for the period must equal the sum of sa105 PRO11.1 furnished holiday lettings etc
Resolution

This is HMRC rule being applied and check all entries under UK Property and Foreign Property:

1) You cannot have negative expenses
2) If you have foreign tax paid BUT the property was already in loss – you cant increase the loss by this tax paid – so remove the tax paid.
3) Adjust the value in expenses for all properties so that they are rounded up or down to the nearest even number

Foreign Tax Credit Relief (FCTR): If you do not claim ‘FCTR’ on the Foreign Property then this can trigger the SA105 issue. Please tick FCTR so it can be generated. If you do not want to tick FCTR then remove the tax paid value.

If you want to declare Foreign tax paid OR Negative Expenses to HMRC then enter it under Reliefs/ Misc /Additional info/ SA100. This will show on the SA100 pages.

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