How to Update the Retail Price Index

Introduction

Limited Companies continue to calculate indexation on all capital gains. The retail price index information (RPI) is issued every month; IRIS maintain the systems RPI database with each software release, on occasion you maybe working on Limited Company that has disposals during a month where no update has been released.  

The following topic explains how to update the RPI database manually:

1. Obtain the latest Retail Price Index information from:
   https://www.iris.co.uk/RPI

2. Log on to IRIS Business or IRIS Trust Tax.

3. Select any currently active client.

4. Select Setup | Retail Prices Index

5. Click into the relevant year/month field and enter the RPI figure.

6. Click OK to save.

• Failure to have the necessary RPI data for a month where an asset is sold will result in no indexation being calculated.