Sky Software
Help and User guide

IT12 Business Income

Detailed below is the business income screen in edit mode which opens when you select the business income button under the income tab.  The screen below is shown in edit mode and in fact has four sub tabs which need to be addressed in entering the income.  These are summary, expenditure, adjustments and additional info. 

You may set up multiple business screens for different business.
We have shown all these screens below.
The summary screen above shows the totals of the income statement like turnover and expenditure when completed. Wherever the cell is yellow you may enter a figure.
The expenditure screen shows all the items that need to be entered and these items can be taken from the sole trader ’s income statement.  After the tax return has been efiled and you pull up the history of the tax return on the efiling website you will find all these amounts entered in the correct slot of the tax return.
The adjustments allow for adjustments to the taxable income like non-allowable expenditure amounts and doubtful debts as indicated on the screen below.  You can either increase the taxable profit or reduce the profit depending on whether you use the left or the right hand column.
In regard to each income statement that you enter there are additional questions that you have to answer and these you will find on the additional income screen shown below.
 18 November 2021