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personal-tax-basis-period-reform-2024-how-to-make-an-election-to-bring-in-all-of-the-profits-to-the-current-tax-year-and-not-spread-the-tax-over-5-years

Personal Tax- Period Reform 2024: Make election to bring in all profits to current tax year and not spread tax over 5 years + OPT OUT

Please do the following to resolve your issue: - Go to Personal Tax Income Tab | Trade Profession or Vocation…

personal-tax-basis-period-reform-2024-the-schedules-of-data-is-showing-the-incorrect-taxable-profit-for-transitional-periods

Personal Tax- Period Reform 2024: The schedules of Data is showing the Incorrect Taxable profit for Transitional Periods 

The schedules of Data in IRIS Personal Tax is currently showing the incorrect taxable profits for transitional periods.  This has…

personal-tax-period-reform-2024-business-starts-within-2024-tax-year-but-transitional-period-is-being-calculated

Personal Tax- Period Reform 2024: Business starts within 2024 tax year but transitional period is being calculated

IRIS Personal Tax is currently is creating a Transition Period for new business (also if they have Trade commence date…

personal-tax-period-reform-2024-student-loan-calculation-is-not-reflecting-the-transitional-periods

Personal Tax- Period Reform 2024: Student Loan calculation is not reflecting the Transitional Periods

IRIS Personal Tax is currently not including the Student Loan calculation in the Transitional Periods.  This has been confirmed as…

personal-tax-uk-scottish-welsh-tax-rates

Personal Tax- UK/Scottish/Welsh Tax rates

New Scottish Rates 2024/2025? Our Development team is currently looking into this so we can apply the new rates into…

iris-personal-tax-farmers-averaging-claim-for-the-transitional-period-the-calculation-is-incorrect

Personal Tax- Period Reform 2024: Farmers Averaging claim for the Transitional period the calculation is incorrect

IRIS Personal Tax is currently using the standard period profit and taking off the overlap relief and then averaging the…

personal-tax-2024-loss-is-being-carried-back-but-also-been-shown-as-carried-forward

Personal Tax- Loss is being carried back but also been shown as carried forward

In Personal Tax: If you have selected to carry back a loss for a sole trade or partnership, the loss…

personal-tax-period-reform-2024-capital-allowances-are-not-being-deduced-from-the-profit-loss-transitional-part

Personal Tax- Period Reform 2024: Capital allowances and Balancing Charge are not being deducted from the profit/loss transitional part

IRIS Personal Tax is currently not deducting the capital allowances/balancing charge from the profit/loss transitional part on the trade computation,…

business-tax-system-xml-root-element-is-missing

IRIS Business Tax

Business Tax- System XML, Root Element is missing OR Fatal Error 2001

These two Error messages occur when you are trying to attach an optional PDF which is too large. The maximum…

personal-tax-interest-tax-deducted-does-not-equal-20-of-the-gross

Personal Tax - Interest Tax deducted does not equal 20% of the gross

This applies to all Interest entry where the 20% warning appears: Check the Interest Credited Gross entry, the 20% of…