CT600 Losses boxes - inconsistencies reported by HMRC

We have received correspondence from HMRC, as some of our customers also have, to alert us to the entries required in certain loss amount boxes within the CT600.

The boxes affected are:

• 805/810 UK property business losses.

• 830/835 non-trading losses on intangible fixed assets.

• 850/855 management expenses.

These boxes should only contain current year loss information. 

In TaxCalc, we are aware that box 830 – non-trading losses on intangible assets, currently includes brought forward losses as well as current year losses. We will be making the necessary changes to the software to include current year losses only.

HMRC confirm that they will be using the loss amounts in the tax computations for the accurate reflection of the losses. The TaxCalc Computation currently provides a breakdown of brought forward and current year losses, so HMRC will have access to the correct figures.

This means that TaxCalc customers will not have to take any further action.