Overseas trades

Use Edit overseas trades to provide information about the overseas trade of the company.

You should enter the trading profit or loss figure at Profit & loss account. The figure appears on the Details tab but cannot be amended there. Any adjustment must be made on Profit and loss.

Edit overseas trade comprises of three tabs:

Enter information about the trade such as:

  • Trade name
  • Commencement date
  • Cessation date
  • Prior year adjustment
  • Other adjustments
  • Foreign tax paid

The figure of Profit/(loss) on ordinary activities before taxation, shown on this tab, can only be amended on Profit & loss.

Summarises the capital allowance claims made in respect of all assets identified in Fixed asset register as relating to this trade.

With the exception of claims in respect of certain cars, you cannot enter any figures on this tab.

To see how a particular allowance or charge has been calculated, click the relevant amount.

Losses this period

Use this tab to identify any losses:

  • foregone or no longer available
  • surrendered as group relief
Note:

To enter losses in Group relief surrendered, there must be at least one associated company (or one 51% group company during periods between 1 April 2015 and 31 March 2023) excluding this company entered at Return information.

Losses b/f

If this is the first period for the company in Sage Corporation Tax, then enter the amount of losses brought forward. Losses for subsequent periods are brought forward from the preceding period.

You should also use this tab to enter details of losses:

  • foregone
  • relieved against other income and gains or no longer available
  • transferred in
  • surplus qualifying charitable donations and any surrendered as group relief
  • Losses transferred out
  • Losses extinguished on cessation
Note:

To enter losses in Less: Qualifying charitable donations surrendered as group relief, there must be at least one associated company (or one 51% group company during periods between 1 April 2015 and 31 March 2023) excluding this company entered at Return information.

How do I get here?

Overseas activity > Overseas trades opens Select overseas trade. Click Add or Edit to open Overseas trade.