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How Too handle Assessed Losses in a Provisional Tax Calculation

Provisional Tax P2 – Assessed Loss 80 % Rule
 
Sky Tax has been amended to cater for Assessed losses in terms of the 80 % rule as follows:-
 
On the Provisional P2 Review screen
Under the assessment block
New fields as below
 
Loss Brought forward
If the assessment has a loss , this figure will be brought forward
If the bfwd figure (which may be different to the taxable income on the assessment) is on the downloaded assessment than it will use this figure.
 
If you need to change the normal income figure for the P2 and want it to apply the 80% rule for losses
Then click on the button next to estimate income
 
The following screen will popup
 
Here you can enter the figures as indicated. The system will calculate the allowable loss
 
 
18 January 2018