COM51082 - Claims / reliefs: ACT: how to give ACT carry back in assessment (Action Guide)

Making the assessment where Function RECB has not been used to record a carry back of ACT

Step 1 - 3

Making the assessment after Function RECB has been used to record a carry back of ACT

Steps 4 - 6

1.

If an assessment has not been made but the return included the ACT carry-back

• Use Function PASR (Prepare Assessment Based On Return) to give effect for the ACT carry-back

2.

If an assessment has been made already or no assessment has been made but the return does not contain the ACT carry-back

• Use Function PAST (Prepare Full Assessment) to give effect for the ACT carry-back

3.

In Functions PASR and PAST

• Enter ACT carry-backs as decimals. For example enter an ACT set-off of £2350 as 2350.00

• Enter the end date of each AP from which an amount is carried back in the format 99/99/99

• Do not enter more than one carry-back of the same type (ACT or Loss) from the same AP against a single AP

• Enter ACT for earlier APs before later ones

• • 31/12/95 £500.00

• • 31/12/96 £400.00

• • 31/12/97 £300.00

4.

Use Function PAST (Prepare Full Assessment) to

5.

Enter all carry-backs in the assessment in the usual way, (see Step 3 above), regardless of any previous use of Function RECB

6.

Set any non-standard EDP (Word 41KB) again in screen COT120M. For more information see subject Correcting Interest - District (COM51060)