To carry back a partnership loss for the current year to a previous year, you need to make a manual adjustment to your SA100 tax return for the year in which the loss occurred. You don't need to re-submit your return for the previous year and this cannot be done via the SA800 tax return.
To calculate the manual tax adjustment figure:
- Open the return for the tax year that you're carrying the loss back to.
- Make a note of the tax figure.
- Enter the loss you're carrying back as an expense.
- Make a note the new tax figure.
- Take the second tax figure away from the first to find the adjustment.
You then need to enter the manual tax adjustment.
SimpleStep mode
- Go to Your Work > Partnership Management > Partnership – Trading Losses > Carry it back to previous years and set off against income or capital gains.
- Declare that you want to carry the loss back.
- Go to Working out your tax > Tax Adjustments > Adjustments to an earlier year that decrease your tax.
- Enter the adjustment figure.
HMRC Forms mode (Full/Short Form)
- Go to Partnership > Page 2 > Box 23.
- Declare that you want to carry the loss back.
- Go to Tax Calculation > Page 2 > Box 15.
- Enter the adjustment figure.
To view the adjustment, select Summary from the left-hand menu and click on Tax Payment/Repayment Summary.
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