Handitax Managed Fund form

Please see the short-comings we have identified with Handitax's "new" 2020 Managed Fund Form (we are SQL version) [replaced fund button from earlier years]

What I sent to support on 5 July 2020

I am contacting you to highlight an error in the new Managed fund form in the 2020 Handitax individual tax returns, specifically the Capital Gains Income area. It appears to transfer directly to Item 18 in the individual tax return.

Previously, in 2019, these amounts would transfer to a Capital Gains Tax Worksheet and then into a CGT Schedule and finally into the main form. In 2020 The CGT amounts in the Managed Fund form bypass these straight to the Main form. Hence, you can’t offset any carried forward or current year capital losses.

Therefore, the CGT section of the Managed fund section will create erroneous amounts in the main form, because it does not consider losses or other capital gains before being transferred.

Support's response

Thanks for contacting Support, I have reported this to our programming team to review in a version upgrade.

 For now, the workaround will be to alter the capital gains schedule to apply any losses required.

This has not been fixed that I can see as at 27 October 2020, has anyone else found a suitable solution to this problem?