IHTM29106 - Enquiry Reporting System (ERS): adjustments to chargeable values resulting in yield

Once you have set the baseline record and opened ERS you can begin to record the adjustments to yield. You should record all adjustments to assets, reliefs and exemptions in COMPASS first. Then go into ERS and identify all the adjustments which have resulted in yield. Go into the ERS Case Enquiry Report - Yield window. and click on the ‘Adjustments’ button. This will bring up a screen which lists any items already recorded as giving rise to yield and includes a dropdown box that lists all the assets, liabilities etc recorded on the case.

Click on the arrow by the dropdown list to show the items recorded on Compass. The Compass entry and asset descriptions are also shown. Make sure you identify the item to which the adjustment relates correctly and click on it.

When you have selected the item, you need to record the amount of the adjustment. There are two boxes on the screen - one to record an increase and the other to record a decrease. Enter the amount of the adjustment in the appropriate box.

You should record the effect the adjustment has on the value of the estate. So if you are disallowing a relief or deduction you should show the amount of the adjustment as an increase. A prompt will remind you about this.

Click on the 'add' button to add the adjustment to the yield list. When you have finished adding items to the yield list, click OK and respond to the prompt to save the adjustment before returning to the Yield Report window.

Different amendments to the same compass asset

If you have more than one adjustment to the same data item, make two separate entries on the yield list.

Recording tax ‘saved’

Tax is ’saved’ where the taxpayer makes a claim for a deduction against the estate, but you succeed in limiting or denying it. To record "tax saved", you need to add the appropriate item to COMPASS and then delete it. This will have the effect of leaving the chargeable estate unchanged, but the item will be included in the dropdown list (the item will be followed by the marker "Del").Select this item and enter the amount of relief or exemption denied as an increase to the estate to record the yield on the tax saved.