Capital Losses (SA100)

This tab allows input and allocation of Capital Losses arising and brought forward, and is accessed via the data input tab within the tax return.

Losses for the year

Losses for the year The total losses arising in the year. This field may not be editable if disposals have been entered in the Disposals tab. To override the figure, use the Gains Summary tab to enable the override of summary figures.

Losses used against income

Allocation of losses

  • Gains for the year before losses
  • Income losses set against gains, In some cases, trading losses can be set against gains. Enter the income losses set against gains of the year. See HMRC Helpsheet 227 Losses.
  • Net gains after losses
  • Losses brought forward
  • Losses brought forward used against gains Specify the amount of losses used against gains. You do not need to allocate all of the losses brought forward – it is common to allocate only enough losses to reduce the net gain to the Annual Exempt Amount
  • Losses used against an earlier years gain If the tax payer died during the tax year, losses arising this year can be allocated against earlier year gains. Enter the amount to carry back.
  • Losses to carry forward, Enter the total losses to carry forward.

Additional text note for Tax Return

Enter any additional information you wish to appear in the white space of the tax return.

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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