Non-UK resident company landlords

Sage Corporation Tax v3.2 and later, allows you to submit Non-UK resident company landlords and relieve UK Income Tax losses brought forward.

This is available for companies with a PoA commencing on or after 6th April 2020.

To set your client as a 'Non-UK resident company landlord' (NRCL)

1. Open your client
2. Double click the period
   

   TIP: The period must begin after 5th April 2020 or the NRCL tick box will not be visible

3. Click on Business Activities
   

   TIP: If the UK Property is not already set up, set it up now. Unlike UK Trade, a UK Property does not need a description. Simply click 'save' then go back in to UK Property to open it

4. Tick the box Non-UK resident company landlord
   

   NOTE: When you tick the button, two new lines will appear in the calculation section at the bottom: 'Adjusted Profit/(Loss) Before Income Tax Losses B/f' & 'Income Tax losses B/f and Relieved' 
   
   If the box is greyed out, there is more than one Business Activity in the period refer to Non-UK resident company landlords NRCLs under to add a new company section for more details. 

5. Enter a Commencement date, which must be on or after 6th April 2020

Entering and relieving Income Tax losses brought forward

1. Click on UK Property
2. Click on the Losses button at the top
3. Select the sub tab below losses, Income Tax losses B/F
   

   TIP: If this tab is not appearing, check that you have ticked the NCRL button above AND saved the screen.

4. Enter your Total losses B/F figure
5. Enter any Losses forgone/amounts no longer available if applicable
6. Enter the amount Relieved in this period: UK Property business
7. Enter Net non-trading credits on loan relationships
8. Enter any losses b/f Extinguished on cessation

TIP: Click on the ? to see the maximum amount you can claim and how it is calculated

Returns & Computations

The 'UK Property business adjusted result' report and 'loan relationships summary report' have been updated to reflect the relief of unrelieved income tax losses brought forward which are reported in a new report (B4a).

The Income tax reconciliation report (A7) has been updated to include any income tax suffered on the UK property income.

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