COM153082 - CT Pay and File: claims / reliefs: ACT: how to give Advance Corporation Tax (ACT) carry back in assessment (Action Guide)

To record a carry back in an assessment, consider steps 1 - 4 below. The guide is presented as follows.

Making the assessment where function RECB has not been used to record a carry back of ACT Step 1 - 3

Making the assessment after function RECB has been used to record a carry back of ACT Step 4

Making the assessment where function RECB has not been used to record a carry back of ACT

1. If an assessment has not been made but the return included the ACT carry-back, use function PASR (Prepare Assessment Based On Return) to give effect to the ACT carry-back.

2. If an assessment has been made already or no assessment has been made but the return does not contain the ACT carry-back, use function PAST (Prepare Full Assessment) to give effect to the ACT carry-back.

3. In functions PASR and PAST:

  • enter ACT carry-backs as decimals. For example enter an ACT set-off of £2350 as 2350.00
  • enter the end date of each Accounting Period (AP) from which an amount is carried back in the format DD/MM/YY
  • do not enter more than one carry-back of the same type (ACT or Loss) from the same AP against a single AP
  • enter ACT for earlier APs before later ones

For example if you are relieving against AP ended 31 December 1994 ACT carried back from APs ended 31 December 1995 £500, 31 December 1996 £400, 31 December 1997 £300 enter them as:

  • 31/12/95 £500.00
  • 31/12/96 £400.00
  • 31/12/97 £300.00

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Making the assessment after function RECB has been used to record a carry back of Advanced Corporation Tax (ACT)

4. Use function PAST (Prepare Full Assessment) to:

  • enter all carry-backs in the assessment as in Step 3 above, regardless of any previous use of function (Record Amounts Carried Back) RECB
  • set any non-standard EDP (see Glossary for more information) again on screen COT120M. See COM153060 for more information.