Close company loans written off section (SA100)

Where a loan or advance, made by a close company to a participator or associate, is wholly or partly written off or released, the amount written off or released, plus an amount of tax treated as paid, becomes taxable. Refer to HMRC's Company Tax Manual.

  1. From the Clients menu, select Clients list.
  2. Change the client list view to either Active clients or a custom view that includes all relevant clients.

    3. If any of the entries are greyed out and you cannot select them, this is a restricted item — the parent client record has been set to Private and you do not have access. If you believe this is a mistake, contact your IRIS Elements administrator. Users who have Administrator level permissions are able to view all public and private client records, even those where they are not named as assigned users.

  3. Open the relevant client record.
  4. On the Personal tax returns widget on the client dashboard, select the required return. The Status tab is shown by default.
  5. Select the Data input tab, then select Add new section.

    Any previously added sections are crossed through. Once added, the section can be edited by selecting its name.

  1. On Choose a section to add, under Savings and dividends, select Close company loans written off.

  2. If the section is crossed through, it has already been added to the tax return. To adjust it the existing values, close the window and select the section on the Data Input tab.

  3. For each line, enter a brief description of the loan written off or released on Source, together with the Amount.

    A new line is automatically added. Unwanted lines can be deleted using the bin icon.

  4. Select Save changes.