New
over 1 year ago

Restricting surplus QCD's correctly in the software

When there s a taxable loss for the year, SCT correctly shows a restriction of the QCD's entered to give a total claim of nil (B12). However, the tax computation (A1) is still deducting another entry of "surplus QCD's" and generating an overall taxable loss equal to the surplus. This then gets carried forward to the Tax Liability Calculation (A2) and calculates an amount of tax repayable for the year. This is not in line with legislation, and needs to be corrected! Sage technical support are able to provide a work-around solution, but it is not technically correct (entering a figure in the "non-deductible" box means you no longer see the donation that would have been allowed and the corresponding restriction).