Where you have an Amount to carry forward showing on the Land and Property summary and have updated to the following year, you may notice that this amount isn't brought forward from the prior year.
Cause
Resolution
For the figure to be carried forward, you'll need to make sure that the Land and property summary in the prior year shows an amount to carry forward on the last row of the residential finance costs section
If HMRC's calculation has restricted this amount on the Tax Calculation, alter the 'Amount used this year' accordingly. The box will turn pink once it's been edited.
Click the yellow Amount used this year field and select Yes to disable the auto-calculation. Enter the amount used this year to ensure the correct amount is carried forward on the line below:
Once this figure is correct, you'll need to have a finalised return with the updated carried forward figure in the prior year for it to be brought forward. If you've year updated without having a finalised return, you'll need to do one of the following:
In the later year, select Tax return and computations, Land and property summary and enter the amount brought forward manually.
This may be the simplest option and won't overwrite any data.
Right click on one of the properties in the earlier year and select Section update.
This will only overwrite the details for that property in the later year. You'll need to update one of the properties, rather than the land and property summary itself.
Year update the client again.
This will overwrite all sections for the client in the new year. Show me how
Select Tools, Year update
In the top white section, highlight the prior year you are updating from
Below are two options which allow you to update forwards or backwards from the current year. Select to update forwards
Select OK
You'll be prompted that you're about to overwrite the current year. Select Yes to continue
The figures from the prior year's final return will now be brought forward.
