S388 terminal loss relief

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
Has anyone done one of these for real????

If so, I assume that you put the amount of the claim on the tax return - but which box? I also assume that you set out the claim as we were taught in the books. Finally, do you quantify the amount of the claim, or just put the profits that you want relieved?

Have tried to speak to people at HMRC, but as usual they no nothing!!!!

Any help would be ever so much appreciated, as this has been sitting on my desk for ages and I would love to get it off to client for signing - then I can put in bill and get paid if/when refund appears.

Many thanks

Claudia

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:S388 terminal loss relief

    Hi Claudia

    This may be of use to you.

    http://www.hmrc.gov.uk/manuals/bimmanual/BIM75480.htm

    Obviously you will have calculated the loss and this would be entered into box 3.89 of the S/E pages.

    Hope this has helped.

    Regards

    Dean
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:S388 terminal loss relief

    Hi Dean

    Many thanks for that. I will now endeavour to get all of this finished!

    Claudia

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