SACM5005 - Provisional Claims and Provisional Figures in Claims: Provisional Claims

It is not possible to make a provisional claim apart from the one exception mentioned below. A claim cannot be contingent on something else and the customer either makes a claim or does not.

The one exception to the general rule occurs at the start of a new business where the date for filing the SA return falls close to or before the date to which the first accounts will be drawn up.

So that the customer can file his return, we allow him to include a provisional figure of profit or loss. As loss relief can only be claimed once the extent of the loss has been established, we treat the return as including a provisional claim to relief where the accounting period has yet to end.

If the accounting period has ended but the customer has yet to finalise the accounts and arrive at the precise figure of loss, we would treat the figure as a provisional figure within the return.

We want the customer to meet his legal obligation to file a return by the statutory filing date which is why we take this stance. However, it is important to establish whether you have a provisional claim or a provisional figure within a return. (SACM5010)

It is possible to make an election or to give notice of something on a provisional basis.