Thank you for your feedback.

Was this useful?

Personal Tax: Use Trade loss against current income?

Article ID
personal-tax-use-trade-loss-against-current-income
Article Name
Personal Tax: Use Trade loss against current income?
Created Date
20th September 2021
Product
Problem
Personal Tax: How to use Trade loss against current income?
Resolution
  1. Load the client and select correct year
  2. TPV, STP
  3. Select the correct period
  4. IF a Partnership – on the ‘Trading income’ tab – enter loss value in the box ‘Loss Offset against XXX’
  5. IF a Sole trader – on the ‘Adjustments, Losses’ tab – enter loss value in the box ‘Loss Offset against XXX’
  6. OK to save and close
  7. We recommend you also run the ‘Trade computation’ (under reports) which refreshes the client and then check the Tax comp.

Thank you for your feedback.

Was this useful?