IRIS Business Tax - General

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How to carry back a trading/terminal loss to a prior year.

In the current year go to edit | losses - In the year in which the loss arose enter the amount to be carried from this year in to the “less loss carried back cell”.

In the year the loss is being carried to enter the amount in the “brought back” cell | Apply | OK
  
Data entry | Summary | tick “for earlier period” in the repayment claim section | ok - Edit | Notes | enter a manual note detailing this carry back of loss.

How to enter a vehicle with private use.

Edit | capital allowances | A-maintain assets | insert the asset details
 
Do not tick include in generate or special rate pool | OK | Close  

Run a B-recalculate | C-maintain | double-click on the vehicle | enter the private use element

Indexation isn’t being calculated when disposing of a capital asset.

Please ensure that the asset details have been entered within edit | Capital Assets | Assets category  

If the indexation is still not being calculated please ensure that the retail price index table (in business tax | Setup | Retail Price Index) has the figure entered for the month of disposal.

How to attach accounts in a PDF format.

Data entry | Summary | below the accounts section, select Accounts attached in PDF format

Reports | Electronic tax return | below the attach accounts section select external file, click on the magnifying glass and search for the PDF document.

How to Repay an overdrawn directors loan account.

The repayment need to be entered in the year in which the loan was initially taken out.
 
Therefore go back to the year where the amount is showing as a new loan outstanding | Data entry | Loans to participators by close companies | enter the repayment in the repaid/ released/ written off within or after 9 months | update totals | click OK

Run the edit | bring forward in the preceding years where the balance will be adjusted.

A balancing allowance isn’t being calculated for a disposal of an asset.

Please note that a balancing allowances would only be given on a pooled asset if the business has ceased to trade.
The cessation date can be entered through Client | View

If this is a non-pooled asset please ensure the disposal details have been correctly entered within edit | capital allowances | a-maintain assets.

Run the edit | bring forward in the preceding years where the balance will be adjusted.

Declaration warning when generating an electronic tax return.

This error is indicating that the person signing the return has not been entered.

Go to Data entry | declaration and enter the name and status of the person signing the return to bypass this warning.

When printing a 64-8 the details aren’t showing.

Please ensure that a business representative has been selected. The business representative will automatically be picked up once the partner/director has been entered through client | view | related.
 
Once the business representative has been entered the 64-8 should pull the correct information through.

How to manually alter the information on the Partnership return.

Trades | partnerships | overwrite/leave alone | no – leave alone

Trades | partnerships | data entry – within this screen you can manually alter any data that shows on the partnership return.

I am getting a message saying that menu options have been disabled due to a date conflict. How do I resolve this?

Check that a cessation date has not been entered in error via Client | View

I am getting a message No posting entries make one?

If you are asked to create an entry complete the following steps:

No posting entries make one? - Reply Yes.

Enter a description - Enter a description and click OK.

The company is a personal services company and has contracts which are treated as relevant engagements under the new rules. Does Business Tax cater for IR35?

Business Tax does not calculate the deemed Schedule E payment.

However, as the deemed payment is allowable for corporation tax purposes this can be entered in Business Tax using the allowable expense posting type.

Remember that the deemed payment is only allowable as a deduction in the period of account in which the notional salary payment is made.    

I would like to make mapping changes. How do I do this?

If you need to make changes only at client level select Edit | Business Tax Accounts, select the category and click Edit. You can now add or delete account codes within the selected category.

For chart level changes, follow the same procedure but access this screen via Setup | Business Tax Accounts. (You will need to be logged in as a Master User to make chart level changes).

These changes will only affect the computation.