COM50083 - Claims / reliefs: loss and non-trading deficits carry-back: changing the EDP (Action Guide)

Loss or non-trading deficit carried back displaces a relief and a repayment is due

Steps 1 - 5

Loss or non-trading deficit carried back displaces a relief and a repayment is not due

Steps 6 - 7

Repayment / reallocation already made as a result of a carry-back and you make another carry-back

Steps 8 - 10

Repayment / reallocation already made as a result of a carry-back and you amend the carry-back

Steps 11 - 12

1.

Use Function MAPS (Maintain AP Signals) to set the Clerical Interest Indicator (CII (Word 32KB))

2.

If you can amend the assessment

• Use Function RAMA (Record / Amend Assessment) for a CTSA AP or PAST (Prepare Full Assessment) for a CTPF AP to give effect to the carry-back

3.

If you can not make the assessment for a CTPF AP

• Use Function RECB (Record Amounts Carried Back) to post the carry-back

4.

Send a form CT250(P) to the Accounts Office to show that no late payment interest (Word 27KB) is due

5.

Use Function DIRR (Direct Repayment) to make the repayment

6.

If you can amend the assessment

• Use Function RAMA (Record / Amend Assessment) for a CTSA AP or PAST (Prepare Full Assessment) for a CTPF AP to give effect to the carry-back

• In screen COT120M amend the EDP (Word 41KB) shown for the carry-back to the due date for the AP to which you have carried back the loss or non-trading deficit

7.

If you can not make the assessment for a CTPF AP

• Use Function RECB (Record Amounts Carried Back) to post the carry-back

• When you get to screen COT193D / E amend the EDP shown for the carry-back to the due date for the AP to which you have carried back the loss or non-trading deficit

Note: The computer will have set the Clerical Interest Indicator automatically after it made the earlier repayment or reallocation

8.

Use Function RAMA (Record / Amend Assessment) for a CTSA AP or PAST (Prepare Full Assessment) or a CTPF AP to give effect to the carry-back by amending the assessment

9.

If the original carry back resulted in a displacement, send a form CT250(P) to the Accounts Office to show that no late payment interest is due

10.

Use Function DIRR (Direct Repayment) to make the repayment

Note: The computer will have set the Clerical Interest Indicator automatically after it made the earlier repayment or reallocation

11.

If you are increasing the carry-back

• Use Function RAMA (Record / Amend Assessment) for a CTSA AP or PAST (Prepare Full Assessment) for a CTPF AP to give effect to the carry-back by amending the assessment

• Send a form CT250(P) to the Accounts Office to show that no late payment interest is due

• Make the repayment using Function DIRR (Direct Repayment)

12.

If you are reducing the carry-back

• Use Function RAMA (Record / Amend Assessment for a CTSA AP) or PAST or a CTPF AP to amend the assessment or make a further assessment

• Do not change EDP on screen COT120M

• Send a form CT250(P) to the Accounts Office to let them know the date from which late payment interest is payable on the additional tax due